Summary: Annual Inflation rate accelerates to 7.8% in December quarter, above expectations; RBA preferred measure rises from 6.1% to 6.9%; recreation prices main drivers of result. In the early 1990s, high rates of inflation in Australia were reined in by the “recession we had to have” as it became known. Since then, underlying consumer price inflation has averaged around 2.5%, in line with the midpoint of the RBA’s target range....