Australia: Budget strategy and outlook

From budget.gov.au

The conflict in the Middle East has triggered substantial economic and energy disruptions across the world. It is driving global inflation higher, global growth lower, and has compounded uncertainty and volatility at home and abroad. The conflict is compounding cost pressures faced by Australians; straining some supply chains, and the impacts on our economy will be felt for some time. The impact of high global oil prices is expected to significantly add to inflationary pressures in the near term, with headline inflation forecast to be 5 per cent through the year to the June quarter 2026. Higher inflation is expected ... (full story)