The Loop: Australia's inflation hits a 21-year high, the Ben Roberts-Smith trial comes to an end, and a man builds a Bluey ute

Hi there. It's Wednesday, July 27 and you're reading The Loop, a quick wrap-up of today's news.

Let's start here: Inflation in Australia hits a 21-year high

Australia's latest inflation figures were released today, and they showed that inflation over the year to June hit 6.1 per cent.

It's the highest level in 21 years, since the GST was introduced.

Here are a few things to know:

• Food and beverage prices rose 5.9 per cent over the past year, with fruit and vegetables were up 7.3 per cent
• Housing construction, furniture and fuel contributed most to the rising cost of living in the June quarter, when prices rose 1.8 per cent
• Economists warn that inflation may not have peaked yet, but is perhaps getting close to the top and may not hit the levels already being seen in the US or UK (between 8 and 9 per cent).

Treasurer Jim Chalmers has warned that inflation figures will continue to increase because the numbers from the June quarter don't include the electricity spike which came in this month.

"Inflation is high and rising, it will get tougher, before it gets easier," Dr Chalmers said.

Inflation hits highest level in 21 years

Today we heard a lot about the government's climate bill

Today, on the first full sitting day of the new parliament, the government introduced a bill which would legislate a requirement for Australia to reduce its emissions by 43 per cent by 2030.

Here's how it went, according to political reporter Jake Evans:

• Climate Change Minister Chris Bowen introduced the bill, saying it would enshrine the climate targets into law
• The bill doesn't yet have the support it needs to pass the upper house
• It needs the backing of the Greens and at least one other senator to pass the upper house, unless the opposition changes its mind and decides to support it
• However, the Greens are not committing to supporting the bill, saying the target is "weak" and will be unachievable unless the government also rules out approving any new coal or gas projects

• The government says it is prepared to drop the legislation if it can't be passed, but would still hold itself to that emissions reduction target, which was binding under the terms of the UN Paris climate agreement.

News you might have missed

• After 13 months — which included a six-month pause due to COVID-19 — the defamation trial brought on by Ben Roberts-Smith has concluded. The war veteran sued media organisations and journalists over a series of articles published four years ago. The judge's verdict is likely to be months away

Mr Roberts-Smith claims he was falsely portrayed as a war criminal. (AAP: Dan Himbrechts)

• Police in New South Wales have named two sisters who were found dead in a unit in Sydney's south-west last month, as the mystery surrounding their "unusual" deaths continues. Asra Abdullah Alsehli, 24, and Amaal Abdullah Alsehli, 23, were found dead in separate beds, and officers said they had been dead for "some time". In a renewed push for clues, police have released a picture of the pair and asked for any information on the women.

Sisters Asra Abdullah Alsehli and Amaal Abdullah Alsehli were found dead in separate beds in their Canterbury unit last month.  (Supplied: NSW Police)

Here's what Australia has been searching for online

• Philippines earthquake. A 7.0-magnitude earthquake has hit the northern Philippines. Officials said hospitals and homes were evacuated but there have been no reported injuries from the strong quake, which was centred around a mountainous area in Abra province. More aftershocks are still expected

Evacuated crowds have watched their homes and businesses damaged in the earthquake.

• Liz Cambage. The Australian basketballer is searching for a new home in the WNBA, after agreeing to a "contract divorce" with the Los Angeles Sparks. She had only signed with the team in February after controversially pulling out of the Tokyo Olympics and the Opals squad following claims she had racially abused Nigerian opponents, which she denied doing.

Liz Cambage joined the Los Angeles Sparks after she played for the Aces. (Getty Images: NBAE/Juan Ocampo)

One more thing: Check out this man's Bluey ute

Brisbane retiree Russell Gray has built a replica of the famed house from children's cartoon Bluey on the back of a ute, which will be travelling around Queensland next month for charity.

Behold …

Russell Gray plans to turn the replica into a cubby house after the trip. (Supplied: Russell Gray)

Mr Gray and his ute will take part in a 10-day road trip across outback Australia as part of the annual fundraiser for Variety — the Children's Charity, where the team behind each car commits to raising at least $8,500 for children living with a disability.

"I drive it around a lot, the kids love it, they go crazy — they ask where Bluey is," he told ABC Radio Brisbane.

Mr Gray said the house will be used as a cubby house for his grandchildren after the Variety Bash.

You're up to date!

We'll be back tomorrow with more.

ABC/wires