Australia's last-mile inflation looks like the last 10 miles

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Last-mile problems are called that for a reason - they're surprisingly difficult despite the seeming proximity. But it's beginning to look like Australia has a last-10-mile problem when it comes to inflation, not just a last-mile problem.

The latest figures from the Australian Bureau of Statistics have headline inflation at 3.6 per cent over the past year. That doesn't sound too bad on the face of it. After all, the figure was 7.8 per cent in December 2022.