The start of a higher import price trend implies higher Australian inflation ahead.
More Quotes from Stephen Roberts:
With commodity prices up strongly, and with the likelihood of the resources boom persisting for many months to come, it is hard to see Australia escaping without the need for higher interest rates.Stephen Roberts
It does take a lot of pressure off the Reserve Bank. It's hard to get persistent inflation without wages pressure, and hard to get wages pressure with employment easing.
Stephen Roberts
Over recent years it has been subdued import prices that have mostly helped to keep a lid on Australian inflation.
Stephen Roberts
The risk is increasing of renewed build-up of inflation pressure, from energy and wages.
Stephen Roberts
I contend that we are both atheists. I just believe in one fewer god than you do. When you understand why you dismiss all the other possible gods, you will understand why I dismiss yours.
Stephen Roberts
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