When Treasurer Jim Chalmers delivered his first economic update to the new Parliament this week, he confirmed the worst fears of Australians eyeing rising household bills and shrinking budgets.
The Treasurer flagged life is set to get even more expensive in the months ahead, as inflation keeps rising towards an expected 32-year peak by the end of this year. Even once we get over that hump, Treasury is forecasting inflation will run well above the decade-long average for much of 2023.
