New CPI figures mean the very unwelcome return of high inflation

No. Not again.

A new year begins, a new page, but the story written on it remains frustratingly the same. We are stuck in an economic cycle that seems to have no end: Inflation, inflation, and more inflation.

The latest CPI figures have been announced and they are reminiscent of 2024 or even 2021. Prices rose 3.8% year-on-year from December, according to the Australian Bureau of Statistics. This is outside the 2-3 percent inflation target range set by the Central Bank.