Business & Economy

Australia government says inflation could touch 7 percent in 2022

Sydney, Australia, Jun 26 (EFE).- Australian Treasurer Jim Chalmers said Sunday that inflation could reach seven percent this year, an estimate that is in line with the projections of the Reserve Bank of Australia.

“This inflation problem will get more difficult before it starts to ease,” Chalmers said in an interview with Australian broadcaster ABC.

The inflation rate stood at 5.1 percent in the first quarter of the year, the highest in 20 years, while on Tuesday the central bank governor Philip Lowe indicated that it could reach seven percent by the end of 2022.

Chalmers agreed with Lowe, and admitted that his government, elected in May, will have to revise the figure in view of the next budgets in October. EFE


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