Australia’s inflation data now tells two quite different stories
August’s inflation shock came from fuel. But beneath the headline, three-quarters of Australia’s annual inflation contribution remains concentrated in non-tradables.
Topic
Oil
A collection of 4 issues
Explainer: Where your $100 petrol fill-up actually goes
Petrol prices begin with crude oil, but that is only the start. Benchmark Analytics traces a $100 fill-up through refining, shipping, wholesale terminals, tax and the service station.
Petrol jumps 14 cents in a week: how the oil shock reaches the bowser
Petrol has jumped 14.3 cents a litre in Australia's major cities. The reason starts in international oil markets — but crude oil is only the first step in the journey to the bowser.
Look under the hood: comparing Australian and US inflation
Headline inflation is 3.5% in Australia and 3.4% in the US. But Australia's underlying inflation is 3.6%, compared with US core inflation of just 2.4%.