Inflation hits an extraordinary 5.1%. How long until mortgage rates climb?

By John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society and NATSEM, University of Canberra

Australian consumer prices jumped an extraordinary 2.1% in the first three months of the year, the biggest quarterly jump since the introduction of the 10% goods and services tax at the start of the century.

The outsized increase, together with a larger than normal increase in the months to December, pushed Australia’s annual inflation rate way above the Reserve Bank’s 2-3% target to 5.1% – the biggest annual inflation rate for two decades.…

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