The Reserve Bank is under increased pressure to lift interest rates
Federal Treasurer Josh Frydenberg speaks on inflation figures at a Melbourne media conference. Source: AAP / JOEL CARRETT/AAPIMAGE
Australia's annual inflation rate climbed to its highest level in two decades, fuelled by rising petrol prices and housing costs. The latest Bureau of Statistics figures show the consumer price index for the March quarter surged 2.1 per cent - taking the annual rate to 5.1 per cent.
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