Australia's inflation rate rose 7.8% from a year earlier and hit a 33-year high in the final quarter of 2022, exceeding forecasts and prompting money markets to price in an interest-rate hike at the RBA meeting on Tuesday.
Core inflation, a measure preferred by the RBA, accelerated to 6.9% year on year in the October to December quarter, exceeding economists' forecast of 6.5%. The result indicates inflation remains very strong even after 3 percent...

Increasing risk of house prices crash
The chance of house prices crashing in the next 12 months has increased dramatically as the Reserve Bank of Australia raises interest rates aggressively, experts say.
"I think it's fair to say the risk of a house price crash over the next 12 months has been heightened significantly by the big jump in interest rates," said Mark Bainey, Sydney-based developer and chief executive of Capio Prope...

The Reserve Bank of Australia (RBA) is overwhelmingly expected to raise interest rates by half a percentage point this afternoon.
Why? Because it desperately tries to ease Australia's cost of living pressures.
The nation's headline inflation rate jumped to 5.1 per cent in the March quarter (its highest level in 21 years), and is expected to surge to 7 per cent by December.
According to market pricing, the most likely outcome today is ...

Fast food giant KFC has been forced to put cabbage in its burgers and wraps in Australia as the country is struggling with a lettuce shortage.
Shoppers in Australia have been hit with soaring prices for some fresh fruits and vegetables. They have posted photos of lettuces costing A$10, three times the usual price.
Now they're facing a new threat.
Whole cabbages are currently out of stock at Woolworths, with half cabbages selling for $3.50 a pop, or $5.20 for half an o...

The Reserve Bank of Australia raised by a larger-than-expected 50 basis points last week, taking the cash rate to 0.85%.
The RBA will raise its cash rate to 1.35% next month, according to 19 of 24 economists surveyed by Bloomberg between June 9-13.
In a television interview on Tuesday night, the Reserve Bank governor Philip Lowe has warned Australians they need to be prepared for substantial interest rate rises over the rest o...

As interest rates rise, Sydney house prices are dropping and experts say it is a "bellwether" for what is about to happen across the rest of the country.
Real estate agent Mario Carbone, who works for Ray White in Sydney's inner west, has already noticed a substantial drop in buyer activity.
"It's dropped by about 47 per cent, from foot traffic to the open homes, online inquiries, even the phone calls, we get day to day," he said.
On Tuesday, th...