The Kouk examines the CPI and doesn't like it. and for good reason.on a six month annualised basis the RBA preferred measure is now running at 3%. Moreover as the Kouk says the-rba-inflation-forecasts-hit-for-six .
This means the RBA will have no option but to increase interest rates.
I might say my sympathies are with the forecasters here. Given that wage growth is minimal one would not have expected such large increases in the September and December quarters.
Joe Hockey has blamed the carbon tax. This means he doesn't know what was in the MYEFO!