Chimbu chuckles
The question should also be where would interest rates be if the feckless morons in Govt (both sides of the house) still calculated inflation the way it was calculated in the 70s/80s - i.e including housing/food and transport?
I think you will find it does include those items. What it doesn’t include though is the changes in taxation. The figure that is publicised by the RBA is “All Groups” though there is a separate figure that excludes housing and financial and insurance services.
Consumer Price Index, Australia, Jun 2009