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ABC News
ABC News
Business
political reporter Jake Evans

As crisis calls over financial distress climb, treasurer and finance minister say they know rate rises are hurting

Finance Jim Chalmers Reserve Bank Phillip Lowe Inflation Katy Gallagher Lifeline Peter Dutton Australia RBA
Jim Chalmers says he knows rate rises are "titghtening the screws" on families. (ABC News: Nicholas Haggarty)

Federal government ministers have acknowledged an increase in distress calls to crisis support hotlines over cost of living, but say the fight to rein in inflation must continue. 

Finance Minister Katy Gallagher said the government knew rates rises were causing pain, but allowing inflation to run longer would be worse.

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