Everyone’s getting mugged by inflation – and you’ve got one man to blame
Inflation in Australia has risen to a three-year high of 4.6 per cent, largely driven by the surge in oil prices following Donald Trump's war against Iran and the closure of the Strait of Hormuz. The conflict has disrupted global supply chains, pushing up fuel and transport costs, with further increases in food and consumer prices expected. Despite higher inflation, financial markets have downgraded expectations for an imminent interest rate hike by the Reserve Bank.
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