Jim Chalmers proven wrong on inflation again
Like clockwork with the release of each of month’s inflation data from the ABS, there is a social media post from Treasurer Jim Chalmers talking up how either the success in fighting inflation is down to Labor or how the lack of effective inflation fighting is down to external forces or other elements beyond their The post Jim Chalmers proven wrong on inflation again appeared first on…
Australian Treasurer Jim Chalmers has made statements about inflation, attributing it to external factors. According to MacroBusiness, Chalmers regularly posts on social media about the government's efforts to fight inflation, suggesting that any success is due to Labor or that the lack of progress is due to factors beyond their control.
Chalmers has specifically pointed to the US-Iran conflict as a cause of higher inflation and borrowing costs, saying it has been an economic disaster. He told ABC News' Insiders program that the conflict has led to upward pressure on inflation, contributing to higher interest rates globally.
Australia's central bank has raised interest rates to a 15-year high in an effort to curb inflation, citing elevated energy prices and domestic capacity pressures. Chalmers has rejected suggestions that government spending is the primary driver of Australian inflation, saying spending growth has slowed.
Brief written by urgent.news from MacroBusiness, Investing.com — 2 reports on this story. Machine-written — may contain errors; check the original before relying on it.
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- Australia’s Chalmers blames US-Iran war for higher inflation, borrowing costs investing.com
- Why Australia’s inflation is domestically driven macrobusiness.com.au
- Chalmers warns higher yields likely to kill off cost-of-living help theage.com.au
- Chalmers warns higher yields likely to kill off cost-of-living help smh.com.au
