Chalmers says latest Treasury modelling shows Australia’s inflation could reach 5%, as national cabinet meets on fuel

Australia’s inflation rate could peak in “the high 4s or even higher” this year, according to Treasury modelling, Treasurer Jim Chalmers says.

The latest modelling comes as Anthony Albanese prepares to meet state and territory leaders in a national cabinet hook up on Thursday to discuss the fuel crisis and announce a national coordinator-general to help address its issues.

Albanese has asked the governments to each appoint a “point person” to liaise with the Commonwealth. The meeting will hear and share information and discuss actions that can be taken.

Chalmers…

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