Inflation to rise as long as Iran uncertainty remains: Chalmers

INFLATION WILL GET WORSE BEFORE IT IMPROVES

Yesterday’s inflation figures hit many headlines after the Australian Bureau of Statistics revealed that a 33% rise in oil prices helped push inflation up to 4.6% in March.

Age gets the treasurer Jim Chalmers On Wednesday, he said things will get worse before they get better, pointing to the impact of the war in the Middle East that has closed the Strait of Hormuz.

“The rise in today’s monthly headline data was driven by conflict, which could cause inflation to rise further before falling again.