Inflation rate rises on the back of Middle East conflict
Higher fuel costs due to the Middle East crisis have pushed Australia’s inflation rate to 4.6 per cent, the highest in two and a half years. The Australian Bureau of Statistics reported on April 29 that the Consumer Price Index (CPI) rose 4.6 per cent in the 12 months to March. That’s up from the 3.7 per cent figure recorded in February. “Annual CPI inflation is the highest it’s been since September 2023,” said Sue-Ellen Luke, ABS head of price statistics. Treasurer Jim Chalmers said the latest data showed Australians were paying dearly for the war in the Middle East. “Th