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The Canberra Times
The Canberra Times
National
Gerard Cockburn

Economy braced for fresh wave of hurt amid calls for 'belt tightening'

How does inflation affect the cost of living? | May 24, 2022 | ACM

Major flooding across NSW will place added to strain to an economy already dealing with soaring levels of inflation.

Tuesday's rate decision by the Reserve Bank has made borrowers feel the pinch, but the damage and coming clean up from the fourth major flooding event in NSW within 18 months, may pose serious concerns about further price rises for essential goods and services.

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