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The Guardian - AU
The Guardian - AU
Business
Peter Hannam and Jonathan Barrett

Stagflation: is Australia heading back to the 1970s? Our economics and business writers go head to head

United States Australia Inflation Economics Economy Jonathan Barrett Jonathan Kearns Peter Hannam Guardian Australia RBA
Composite image for Stagflation debate between Hannam and Barrett
In light of the latest GDP figures, is there a risk Australia’s economy could become stuck in a rut with high inflation and unemployment and no growth? Composite: Guardian Design

Australia posted its weakest economic growth – excluding the Covid-era distortions – since 1992 in the first quarter of 2024, we learned this week.

Inflation, too, has ticked up lately rather than remaining on a downward trajectory towards the Reserve Bank’s 2-3% target range.

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