But domestic price pressures are also strong, with non-tradable inflation up 5.3 per cent.
A sustained unemployment rate with a four in front of it, combined with solid but sustainable wage growth, would be a very good outcome over the next few years. This stimulatory experiment collided with an unforseen supply-side crunch caused by the war in Ukraine fuelling a surge in energy prices and China’s COVID-zero restrictions that have choked global supply chains.
Why is Australia following the ROW with a poison field approach when we have the ability to reduce most of the inflation by domestic gas reservation, temp GST cuts etc and just kill the weeds! ADGSM gas auspol
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