ANALYSIS: Which prices are going to jump even higher to push inflation above 7 per cent?
The latest data showed that accommodation prices had surged 16 per cent over the past year.
There is a regular seasonal jump in the cost of travel ahead of summer, but this year's rise looks like being a particularly steep one.The other stand-out from the producer price index was the surge in building materials costs. "One of the key issues for inflation peaking this year is that we expect dwelling price inflation to peak in the third quarter then start to ease from there," says Westpac's Justin Smirk.
So, don't expect the cost of building or renovating a home to suddenly fall, but there is an expectation it might not rise too much further.
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