inflation shock, page-7

RE "The pace accelerated from 3% for the final three months of 2007, with higher fuel, fruit and drug prices among the leading culprits."

IMO This is madness. The RBA putting up interest rates again is totally unwarranted. Inflation should not be measured by global cost rises e.g. fuel and food but the intra domestic economy with allowances for exterior rises.

Just go the extreme to prove the point - disaster strikes in the world and oil goes up tenfold - The RBA in their wisdom say hey the inflation rate is up to 25% Lets put up interest rates to 25% to offset it! Madness!

4% inflation with the current world fuel, drug and food cost rises shows that the Australian population have been very conservative in their spending.

We should not be punished for the debt of the USA and to keep their mighty unafordable military machine in motion.