Pre-election rate rise likely next week as inflation surge challenges Reserve Bank independence

Consumer inflation has surged the most in more than 20 years adding pressure on the Reserve Bank to raise official interest rates next week. 

Prices rose 2.1 percent in the first quarter of 2022 making 5.1 percent over the year with fuel costing rocketing.

Betashares chief economist David Bassanese says the RBA's independence will be damaged if it doesn't act in inflation and raise rates in May.

Here's my analysis on The World Today shortly after the inflation figures were released

After the numbers settled, I filed this explainer for ABC News On Demand