7.75% inflation, plunging real wages, weak growth
- Written by Saul Eslake, Vice-Chancellor’s Fellow, University of Tasmania
As he had promised to do almost since the day he became treasurer, Jim Chalmers has presented a gloomy set of forecasts for the Australian economy in his first formal economic statement to the new parliament on Thursday.
Inflation is now forecast to peak at 7.75% in the December quarter of this year.
That’s higher than the Reserve Bank’s...
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