6.1% Inflation under Liberal?
Due to the Russian invasion of Ukraine, the global inflation rate reached 7.97% in 2022, a significant increase from 3.47% in 2021.
Australia, under a Liberal government, kept inflation to 6.1%. Not a bad result, compared to the world average.
The 2025 Australian Federal Election has seen many Labor MPs saying that the Liberal party left office in 2022, with inflation at 6.1%. They were effectively blaming Liberal for this high inflation rate.
As a comparison, the inflation rate in the United kingdom hit 11.1% in October 2022, following the Russian invasion of Ukraine. By January 2025 it had reduced to 3.0%, and then down to 2.8% in February 2025.
The 2022 World events affected inflation in Australia, and the rest of the world.
New Zealand reached 7.3%.
The US hit over 9%.
The Eurozone reached 8.6%.
