Big-spending Labor push inflation up and up

Jim Chalmers’ excuses about inflation being consistently above the 2-3% target band are no longer valid.

His main point is still that Labor is lower than when he took office, an observation that becomes increasingly absurd the further the 2022 election is in the rearview mirror. Almost four years and a new election later, inflation is now rising again, reaching an annual level of 3.8% in December, while the trimmed average figure reached 3.3%. Pressure is now intense for the Federal Reserve to raise interest rates, especially following stronger-than-expected December employment data showing healthy employment growth.