Inflation to hit 5 per cent as oil price bites – and it could get even worse
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Source: The Age
Published: 2026-05-08 05:00 UTC+10:00
Section: Politics / Federal
Factuality Score: 100
Opinion Category: Neutral
Topics: Politics, Middle East, Military & Defence, Iran, Energy, Economy & Finance, Tax & Budget, Business & Economy, War & Conflict
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Snippet:
Inflation is likely to hit 5 per cent by the middle of the year and could soar to 7 per cent by Christmas if the war against Iran pushes oil to $US200 a barrel, with Jim Chalmers’ fifth budget to confirm Australians will face ongoing price pressures.
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