Treasurer Jim Chalmers has conceded inflation is 'persistent, sticky and stubborn,' as households sweat on whether or not the Reserve Bank will look to hike interest rates next week.
Treasurer Jim Chalmers has suggested households might be in for some"unwelcome" news ahead of the release of new inflation data, with all eyes on whether or not the Reserve Bank will hike interest rates next week.Treasurer Jim Chalmers has conceded inflation is"persistent, sticky and stubborn," as households sweat on whether or not the Reserve Bank will look to hike interest rates next week.
Inflation outperformed expectations in March and April, with the RBA warning getting prices down was its"highest priority" ahead of its next rates decision on August 6. Picture: Australian Bureau of Statistics "I think most economists expect the inflation figures today to be persistent, sticky and stubborn in unwelcome but unsurprising ways," he said.Treasurer Jim Chalmers has conceded inflation is"persistent, sticky and stubborn," as households sweat on whether or not the Reserve Bank will look to hike interest rates next week. Picture: NCA NewsWire/Martin Ollman
While Mr Chalmers was keen to highlight progress toward the RBA's two to three per cent inflation target, critics of the government have argued his actions have done little to contribute to fighting pressure on the economy." while key policies, including the flagship Future Made in Australia plan, have been questioned by experts worried about an inflationary rebound.
RBA ABS Cost Of Living Inflation Australian Bureau Of Statistics Judith Sloan Jim Chalmers Future Made In Australia Interest Rates
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