Australia may be beginning to transition its economy off fossil fuels to renewable energy but, like it or not, as a nation we're still hogtied to global oil. It makes the oil price still one of the best economic indicators there is.
For evidence of this, look no further than the September 2023 consumer price index inflation figures that were released on October 25. They showed that while the trend in the rolling 12-month CPI figures is down, the quarterly uptick in inflation has economists all over the country worried that Australia's fight against inflation is far
