December 2021 saw the Consumer Price Index (CPI) grow seven per cent in the United States year on year, the highest rate since June 1982. In Australia, CPI increased by 3.5 per cent in December, the highest rate for the country since June 2014.
One major area of political sensitivity is the fact that US gasoline prices of all types increased by 49.6 per cent year on year whereas in Australia fuel prices increased by 6.6 per cent.
US and Australia Consumer Price Index comparison (year-on-year percentage change)
