Refer to the most recent Consumer Price Index data, for the June 2022 quarter,

published on 27/07/2022 and available at: https://www.abs.gov.au/statistics/economy/price-indexes-and-inflation/consumer-price- index-australia/latest-release.

Refer primarily to the data in 'Key statistics' and 'Main features' subsections right near the top of the page.

Task:

Summarise the CPI inflation rate and related data for the June 2022 quarter. Explain what is represented by this data, such that a non-economist would better be able to understand its meaning.

You should in particular aim to incorporate elements of understanding that have come from this course, such as what the 'CPI' measures and includes, and how this should impact the interpretation of the data. This should provide a clearer interpretation of the meaning behind these numbers.

(For example, you can imagine that you are writing a short summary article for a

newspaper that is aimed at a general audience. Although you do not need to follow

this format stylistically.)