Australia's Inflation Surges Amid Fuel Shock
Sydney News Today | 2 Min News | The Daily News Now! · The Daily News Now!
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Show Notes
Australias inflation figures initially showed a slight drop, but soaring petrol prices have since surged by over 29%, with Sydney averages hitting $2.23 per litre. Despite mild inflation numbers, investors anticipate multiple Reserve Bank rate hikes, potentially reaching 4.85% by Christmas. Wages arent driving inflation; instead, rising profit margins and the current fuel supply shock are the main culprits, particularly impacting low-income individuals. March and June inflation numbers are expected to rise significantly, likely prompting the bank to raise rates regardless of the cause.
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