That's the claim of the blog The Globalist Report. (They seem pretty conservative and not exactly objective.) It's based on this quarter-by-quarter inflation data from the Australian government (right).
The most recent quarter had a 1.4% increase in prices, which (based on their yearly numbers) doesn't look to be annualized. That's high, but it happened in a quarter just a year and a half ago.
Seems more data is needed, but worth paying attention to.
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