Inflation rates Australia versus China, New Zealand, UK, US, Germany, Spain, Brazil, Turkey, Lebanon
Australia may be facing record inflation, but that is nothing compared to some countries as New Zealand is mired in a miserable cost of living – while China looks smug. Prices soared as the country faced the perfect Covid storm and soaring fuel and electricity bills while flood-stricken farmland saw food prices skyrocket. The battle against inflation is being fought globally – and even though Australia is suffering, the 5.1 percent inflation rate here is still among the best in the world. Australia may be facing record inflation, but it pales in comparison to some countries as New Zealand is mired in cost of living woes – while China looks smug China has so far emerged almost unscathed while most other countries are suffering from the Covid stimulus package that has overheated the global economy. In New Zealand, inflation is currently at 6.9 percent and has brought some families to the brink of starvation as they struggle to cope with rising prices. Kiwis actually pay 25 percent