Throwback to 2011: why it feels different to the last time interest rates were this high in Australia

From the supermarket checkout to the petrol pump, the way price rises ripple through the economy has changed dramatically Mortgage holders are facing the highest cash rate in 15 years , but interest rates are only half the story of how the economic picture has changed since they last reached these heights.

While indebted households bear the direct weight of Reserve Bank of Australia decisions, the broader cost-of-living squeeze is hitting everyday budgets through compounding price rises on just about everything.

Read the original report at The Guardian.