Inflation surges to 4.6 percent, triggering likely interest rate hike next week

Australian Treasurer Jim Chalmers warned of more cost-of-living pain ahead as inflation surged to 4.6 percent in March, with fuel prices jumping a record amount. The spike makes an interest rate hike likely next Tuesday. Chalmers said the May 12 budget will focus on housing supply and affordability, with potential changes to property tax settings under consideration.

Summary by Glance · 7 News – Business