Australia’s inflation rate returned to a 32-year high, with the Bureau of Statistics’ latest consumer price index (CPI) rising 7.3% over the year to November. That’s up from 6.9% in October, driven by price hikes across the year on housing (9.6%), food (9.4%), fuel (16.6%), and travel (12.8%). Despite relentless cost of living pressures, retail sales increased for an 11th consecutive record month thanks to Black Friday sales, according to the ABS. The Reserve Bank has forecast that inflation will hit a peak of 8% in December, and economists say the latest figures mean it’s likely the central bank will continue to lift interest rates this year. Following yesterday’s warning from the World Bank that the global economy was “perilously close” to a recession, Treasurer Jim Chalmers said Aussies should be “optimistic” while remaining “realistic” about the future of the nation’s economy. Which is also how we feel about our new year fitness campaign…