Inflation hits five per cent by mid-year, Treasury budget forecasts confirm

Australia's inflation is likely to hit 5 per cent by mid-year and could soar to 7 per cent by December if war pushes oil to $200 a barrel, Treasurer Jim Chalmers' budget will confirm. Treasury forecasts higher inflation than the Reserve Bank's 4.8 per cent estimate, with oil expected around $100 until May then declining to $80 by mid-2026.

Summary by Glance · Brisbane Times