Inflation is so hot right now. The rise in June 2022 is the second highest since the introduction of the Goods and Services Tax (GST) in July 2000. Ouch. The latest CPI shows the price of goods is rising more strongly than services - so you'll definitely be noticing it in your food bill, your essentials. This episode we pick apart the rises, the impact, and what's ahead for YOU. Plus - the Federal Treasurer has updated Australians about the state of the economy ...and he paints a 'confronting' picture. And as the Reserve Bank prepares for another interest rate decision, we look at what the pending review of the organisation will look like. The brains - EY Oceania Chief Economist Cherelle Murphy and Business and Economy Editor at The Conversation and Visiting Fellow at The Crawford School of Public Policy Peter Martin. Find out more about Gillian here. And apologies for Peter's DOG in the first half - it's gone by the second, so stick with us.See omnystudio.com/listener for privacy information.