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The Guardian - AU

National

Antoun Issa

Afternoon Update: Inflation may have peaked at 7.8%; new PM in NZ; and South Australians eating endangered flake

United States Inflation Australia NZ Chris Hipkins Rupert Murdoch Gareth Train Greg Lynn Jacinda Ardern Jim Chalmers

Treasurer Jim Chalmers at a press conference at Parliament House in Canberra — Treasurer Jim Chalmers at a press conference at Parliament House in Canberra. Photograph: Mick Tsikas/AAP

Inflation for 2022 landed at 7.8%, with the treasurer, Jim Chalmers, saying he expects this to be its peak.

The figure landed just short of the Reserve Bank’s estimate that inflation would peak at 8%, but analysts are still expecting the bank to continue hiking interest rates.

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