US inflation jumped 7% in December as prices rise at rates unseen in decades, page-49

Of course the unspoken(ish) question is will we follow the USA in this trend?

USA 7%
Europe 5%
Aus 3%

If so the Feds favorite tool is interest rates. The banks are already singing from a different song sheet than the RBA about when people should expect interest rates to rise. We have a generation who have never seen and probably don't really understand that interest rates go up and housing prices go down.