Australia’s inflation rate has climbed to a near three-year high, on the back of surging fuel prices and conflict in the Middle East.

Latest data from the Australian Bureau of Statistics shows inflation rose from 3.7 per cent in February, to 4.6 per cent for the year to March.

And it led Tom Elliott to call out the Reserve Bank.

Press PLAY to hear him unpack what the latest data means

“This will have alarm bells and sirens going off inside the Reserve Bank,” the 3AW Mornings host said.

“Increasing interest rates will not lower that inflation rate.”

Images: Supplied, iStock