Too true @ribeyeAlso need to take into account that serving...

Too true @ribeye

Also need to take into account that serving sizes are getting smaller, while price remains the same. Inflation by stealth.

Then there's quality adjustments, hedonistic pricing, seasonal adjustments, headline inflation, underlying inflation.....there's more massaging going on at the ABS than at a knock shop!

How out of touch are the ABS? The following is from their website:

"Almost 8 per cent of all household spending is directed towards the purchase of a new dwelling, while rents attract around 7 per cent of total spending by households"

Show me someone spending 7-8% on housing and I'll introduce you to someone living in a tent at a caravan park.