Australia's annual inflation rate has jumped to 3.8%, up from just 1.1%. Inflation is also rising in the United States – but is it really a worry? Plus, the Australian-led innovation to bring the Consumer Price Index into the 21st century.

Guests

Professor Kevin Fox, Director, Centre for Applied Economic Research, UNSW Business School

Nicki Hutley, economic consultant, advisor to Social Outcomes and Climate Council, former Senior Partner, Deloitte Access Economics