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Australian Treasurer Chalmers says expects inflation to peak at the end of the year

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Australian Treasurer Chalmers in response to today’s higher than expected inflation data:

Chalmers says

  • he expects inflation to peak around the same level (as shown in the data today) at the end of the year
  • don’t expect the inflation forecast to change markedly

Chalmers will be referring to Treasury forecasts.

I admire his confidence. If treasury forecasts are as bad as (also confident) Reserve Bank of Australia inflation forecasts have been in the past it could be a rough ride ahead for Australia. Hope I am wrong.

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