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.