Well that could have been the headline after the latest CPI blew the inflation number for the year ended the June quarter above the most recent CRC 'average' increase for general rates. But no, it was all bananas apparently? Note: inclusive of fees and charges your total rates bill would likely still be above CPI.
Given the prominence pre-budget by Cairns mejia commentariat that there was some mystical link that made it essential for Council rates to always be below CPI there should be cheering in the streets!? Perhaps we should link Council rates to banana prices?
Anyway, the most recent CPI wasn't pretty, although Westpac are staying with their negative scenario fr rate cuts apparently! Many alternative views with regards interest rates, uncertainty, and the two speed economy going around just now. If you believe you know, you probably don't!