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Australia’s cost of living crisis is hurting ordinary households, and it won’t be over soon | Satyajit Das

Inflation is on the rise and in an election year, there’s very little politicians can do

The cost of living crisis undermines the preferred election year narrative of a solid recovery from the pandemic. Politicians, irrespective of ideology, now find themselves trapped by rapidly moving events mostly outside their control.

First, despite central bank messaging about transitory, low and gradual inflation, Australian consumer prices are rising at 3.5% annually with increases expected to accelerate.

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Read the original article at The Guardian

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