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ABC News
ABC News
National
Tom Williams

The Loop: Neighbours comes to an end, the Treasurer warns inflation will get worse, and a Sydney climber's body found on a mountain

Inflation Sydney Jim Chalmers Facebook

Hi there. It's Thursday, July 28 and you're reading The Loop, a quick wrap-up of today's news.

One thing to know: Inflation is only going to get worse

In a major economic statement to parliament today, Treasurer Jim Chalmers warned that Australians will face some "tough medicine" in the coming months to avoid a recession and lower living standards.

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