Inflation is going UP!! ABS monthly data reveals.

Here's a little trick economists use to gaslight people, instead of using monthly inflation data they will compare today's inflation with literally a year ago, a completely different time.

But what matters to every day people who care about the cost of living crisis is the monthly trend, we have to pay for necessities, for increasing food prices, increasing fuel, increasing housing costs.

So based on the below data, things have been getting CONSISTENTLY more expensive EVERY SINGLE MONTH. way above RBA's target btw.

Did your wages rises like this every single month? Or was it a pittance once a year that is nowhere near the cumulative inflation that happens EVERY MONTH.

Inflation is out of control.

Data from the start of this year.

Jan-24: 3.4
Feb-24: 3.4
March-24: 3.5
April-24: 3.6
May-24: 4.0
June-24: 3.8
From https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/monthly-consumer-price-index-indicator/latest-release#monthly-overview