Economics

Australia’s CPI Spikes to Highest Since 2008 on Covid Jolt

Annual inflation fueled by free childcare during 2020 lockdown
Central Bank sees prices easing back in the coming quarters

Shoppers at the Queen Victoria Market in Melbourne, on July 22.
Photographer: James Bugg/Bloomberg

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By Michael Heath

July 28, 2021 at 1:38 AM UTC

Updated on

July 28, 2021 at 3:50 AM UTC

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Australia’s inflation surged last quarter, joining developed-world counterparts in spiking from 2020’s lockdown-induced weakness, though a renewed Covid outbreak is set to damp pressures ahead.