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Highly anticipated new consumer price data showed the inflation rate in Australia hit its highest level since 1990 in the December quarter. But analysts are mixed on whether inflation will moderate later this year or become more entrenched.
Australians are the richest they have ever been, with wealth pushed up by rising property and shares values to a record $14.9 trillion in the March quarter of 2022, while wealth per capita surged to a record high of $574,807, according to data from the Australian Bureau of Statistics.