Australia has an especially bad inflation problem. So why are we only middle-of-the pack on the misery index?

Comparing Australia to other countries may not be much comfort but does offer some perspective on the economy

Is Australia’s inflation problem worse than the rest of the world’s?

A day after the Reserve Bank delivered its fifth interest rate hike for the year, increasingly stressed mortgage holders would be justified asking.

For Jonathan Kearns, the chief economist at Challenger, the answer is easy.

“Our inflation problem is worse than in other countries, that is very clear,” Kearns says.

The stats tell the story.

Consumer prices on average climbed by 4.3% in the year to September, and are anticipated to climb even faster by year’s end.