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Australia Inflation Accelerated Further From 5.1%, Chalmers Says

Australian consumer prices have accelerated from the 5.1% recorded in the first three months, Treasurer Jim Chalmers said, intensifying pressure on households and suggesting further interest-rate increases ahead.

“It’s now really clear that the inflation challenge that Australians are facing is worse,” Chalmers told News Corp. in an interview Sunday, saying he’ll likely raise the forecast in next month’s economic statement to parliament. “People should anticipate that it will be higher than it is now. Significantly higher.”