Prime Minister Anthony Albanese argues that high inflation in Australia is driven by a broader "global issue", contradicting RBA Governor Michele Bullock who believes the problem is "homegrown".
Prime Minister Anthony Albanese has argued high inflation in Australia is driven by a broader "global issue", contradicting RBA Governor Michele Bullock who argued the problem had become "homegrown". Prime Minister Anthony Albanese has presented a view at odds with the Reserve Bank as to the driving forces behind Australia ’s persistent inflation.
RBA governor Michele Bullock, on Wednesday, argued increasing demand for domestic goods and services was putting upward pressure on inflation and was “not simply the product of global supply disruption or other price rises”. "The remaining inflation challenge we are dealing with is increasingly homegrown and demand-driven," she said at the Australian Business Economists dinner. "Hairdressers and dentists, dining out, sporting and other recreational activities – the prices of all these services are rising strongly. "This reflects domestic economic conditions and is an indication that aggregate demand is sufficiently greater than aggregate supply to sustain these price increase
Australia Inflation Global Issue RBA Governor Demand-Driven
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