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AAP
AAP
Business
Jacob Shteyman

CBA ups inflation prediction as supply chains strain

CBA Inflation Luci Ellis Australia Oil The Commonwealth Bank Iran United States Westpac
Australians are being warned headline inflation could peak at 5.4 per cent by June. (Darren England/AAP PHOTOS)

Economists at Australia's largest lender have issued a dire warning for consumers, forecasting inflation to scale new heights as hopes of a quick resolution to the Iran war fade.

The Commonwealth Bank (CBA) expects headline inflation to peak at 5.4 per cent by June - 1.4 per cent higher than its previous forecast.

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