Yeah, they say any increase to cpi .would be so small as not to...

Yeah, they say any increase to cpi .would be so small as not to register on the cpi. because the money is spread so widely.

Tim Hext head of government bond strategies at Pendal writing in the AFR expects this weeks cpi numbers to continue the decline to the RBA target of 3% .

https://www.copyright link/markets/debt-markets/the-truth-behind-the-cost-of-living-crisis-and-inflation-20240125-p5f034

Inflation will once again be lower than wage growth.
So, exactly how worse off are we?
Depends on who you are.
Comparing September 2019 pricing numbers with the last quarterly consumer price index in September 2023.

Prices climbed 17 per cent over that period – just above 4 per cent a year on average.
Health and education sectors have lagged overall inflation, up 15 per cent and 13 per cent over four years.
Any private school fee increases would feed into February's figures.
Electronics, communication and clothing prices overall have hardly budged since 2019.
Water rates are only up 5 per cent.
Rents are up only 10 per cent since 2019 – considerably slower than overall inflation. Reports of recent double-digit increases must be put in the context of falling rents in 2020 and 2021.
Helped by Government subsidies consumer prices for electricity are up 9 per cent compared to 2019

Food and drink prices are up 20 per cent since 2019, or about 5 per cent a year. (that hits low and middle income earners harder)
The minimum wage is also up almost 20 per cent since 2019 and key welfare payments have lifted almost 30%

Furniture and carpets are up 23 per cent.
Pet supplies are up 27 per cent.
Motor vehicles up 17 per cent.

Cost of building a new dwelling (not including land) up 34 per cent.
Fuel is up 37 per cent
Gas is up 32 per cent
Travel and holiday prices are up 29 per cent

He didn't mention insurance which is one of the areas I have seen steep rises.
Also the official cpi figures don't include mortgage repayments any more because the RBA didn't like the idea of having interest rate rises to bring down inflation increasing the inflation statistics.

The story finishes with the obvious observation that the long term "cost of living crisis" is a result of high housing prices and associated mortgage repayments.
Australia needs many more houses in areas where they want to live or more houses where they don't want to live and faster trains to connect to work places.