Opinion: A little inflation keeps the wheels of the economy turning, but too much creates instability and can lead to big problems down the track – and inflation is going to get worse before it gets better | rachelclun
. Setting aside the devastating impact on communities, they wreck crops and can disrupt major transport routes, leading to shortages and higher-priced vegetables.to water-intensive crops like almonds. Less supply in periods of drought with sustained demand will also mean higher prices.
But as Treasurer Jim Chalmers said last week, inflationary pressures are coming from both high demand, and tight supply and. And there are certainly some things the government can do to keep inflation under control. It also means buying more from a wider variety of exporters. Trade deals with the UK and the European Union which are currently in the works will help.
And mitigating climate change? Well, that will hopefully help reduce the frequency of catastrophic weather events that have a huge financial effect on the economy, beyond their impact on inflation.Soon we’ll know exactly how high inflation has been for the last 12 months, when the Australian Bureau of Statistics releases its data on Wednesday.
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