Inflation surge could see super-sized interest rate hike in June, economists warn

Finally, a 6.6 per cent surge in fruit and vegetable prices, leading a 2.1 per cent quarterly jump in food prices overall, is the other biggest contributor.

"There is considerable speculation that they'll move on the 3rd of May, but I think that's really been ruled out by the guidance that we've seen from the Reserve Bank about wanting to see data over the coming months," Mr Evans said.

So the redundant, do nothing, corrupt rba is talking up growth in the face of the imf's warning of a contracting global economy. Too little, too late from the ever incompetent RBA

Is that like when Paul Keating was PM 19 % interest rate sent people broke.

Using what theory of inflation would suggest that increasing interest rates would address supply chain constraints and or big business profiteering? APRA could increase deposit requirements on investment property to address housing costs.

Bring it on 😎

Bankers and LNP have said people can use their savings when interest rates go up. You're not allowed to profit people.

Interest rates where always coming ALWAYS. But that big announcement that petrol prices were dropping lasted enough time for the announcement blah of 2 weeks now it's back up. No $250 in people's purses. Best announcement on May 21 LNP VOTED OUT

Caused by government expansion of money supply

Banks have put up rates regardless. Reserve bank should be doing it's job.

Good the pension will go up, thanks.

More of a reason to not vote for the ALP.

Cost of living is currently where it should be , Australia been living in paradise for decades hand sitting and digging holes.

Yes governments around the world screwed up massively. Pandemics and wars are a great way to divert attention, crash the economy and take the money off the people to prop up the markets. That’s life in this corrupt world.

yay

A sharp shock coming

Joe Biden wrecked the economy in 18 months. Inflation at 40-year high World at the brink of WW3

Should have been a modest rise six months ago. Conveniently shelved until after the election.

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