Why is the RBA obsessed with inflation?

Summary

Interest rates are now at the highest level in 18 years, after the RBA hiked the cash rate, raising it to 4.85%. The reason? "Inflation is too high," RBA governor Michele Bullock says. Business reporter David Taylor explains why the RBA is so focused on inflation, and what it looks like when inflation is too high or too low. Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia

Description from ABC News (Australia).