Wednesday, 26 July 2006

Am I the only one amazed by the latest news on inflation?

The Consumer Price Index (CPI) has risen 1.6 per cent in the June quarter, giving an annual inflation rate of 4 per cent.

No surprises there. But the explanation left me blinking like a possum in sunlight.

The rising costs of petrol and bananas have been the key contributors to inflation increasing to its highest annual rate in more than a decade.

Petrol, yes. But bananas? Bananas? Just how important can a fruit crop be?

Maybe Keating was right. This really is a banana republic.

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