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A terrible set of numbers for a treasurer and Reserve Bank governor

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          🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source
No matter how much Jim Chalmers tries to find a golden thread in these bleak economic numbers, there's no getting away from the fact consumers are scarred.
The article from The Sydney Morning Herald discusses the dire economic situation in Australia, highlighted by the latest inflation figures. Treasurer Jim Chalmers and Reserve Bank Governor Michele Bullock are facing significant challenges as inflation has surged to 5.4% in the year to November, far exceeding expectations. This unexpected spike in inflation, driven by increases in fuel, electricity, and rent prices, has complicated the government's economic strategy. The article notes that this high inflation rate could force the Reserve Bank to consider further interest rate hikes, despite previous indications that rates might have peaked. The situation is described as a "terrible set of numbers" for both the Treasurer and the Governor, suggesting potential policy dilemmas and public discontent as the cost of living continues to rise.

Read the Full Sydney Morning Herald Article at:
[ https://www.smh.com.au/politics/federal/a-terrible-set-of-numbers-for-a-treasurer-and-reserve-bank-governor-20241204-p5kvsy.html ]