A leading economist says the latest inflation figures mean that the Reserve Bank of Australia will have no choice but to raise interest rates when they next meet.

Press PLAY below to hear his analysis

It comes after the cash rate rose to 7.8 per cent, its highest level since 1990.

Warren Hogan, economic Advisor to Judo Bank, told Chris O’Keefe inflation was “broad-based”.

“This is a sad story,” he said on 2GB Drive.

“It’s a story that we can’t get away from, everything’s going up in price.

“It’s genuine inflation and it’s a genuine concern, it is hurting Australians particularly low-income, vulnerable Australians.

“And of course it is ultimately going to mean higher interest rates”.

Image: iStock by Getty