Big business is poised to use higher inflation to gouge consumers

The “rate hike on the horizon” tone that has dominated economic commentary since Trump and Netanyahu launched their disastrous war in Iran prompted the Australian Bureau of Statistics to receive a check at 11.30am yesterday. March inflation data It showed that, as expected, increases in diesel, gasoline and jet fuel prices in March helped CPI rise 1.1% month-on-month and 4.6% year-on-year from March.

The 32.8 percent increase in the automotive fuel index was caused, so to speak, by the 33 percent increase in gasoline prices and the 41 percent increase in diesel prices; This is the biggest increase recorded by ABS since the measure began in 2017.