Chalmers says Iran war will raise inflation and unemployment, warning fallout of conflict could be ‘severe’

End of war ‘can’t come soon enough’, treasurer says, as inflation expected to rise above 5% in Australia with global supply chains buffeted Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast The treasurer, Jim Chalmers, says inflation and unemployment are expected to rise because of Donald Trump’s war in Iran, warning ahead of next month’s federal budget that the economic fallout from the conflict could still become “severe”. Playing down expectations of major revenue increases from soaring commodity prices, Chalmers said some forecasters had not adequately assessed the negative effects on Australia from slower growth and rising joblessness. Continue reading...

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