I wish that there was an index or an ETF just for inflation. I...

I wish that there was an index or an ETF just for inflation. I would be very long inflation at the moment.

Interest rates at only one third of inflation are unlikely to do much to reduce it. RBA hesitancy in raising the cash rate adds fuel to inflation because the low cash rate in Australia causes a weak AUD which raises the prices of all imports, of which there are many including oil and vehicles (which are inflating anyway), which in turn increases the prices of everything else. Classic inflation spiral, although I think that markets have largely already realised this and have factored it in.