Australian Treasurer Jim Chalmers is hoping that inflation will lose steam in 2023 after reaching its peak in the December quarter of 2022.
Ahead of the release of the December quarterly inflation figures, the treasurer said he hoped to see a drop in the inflation rate.
In the 2022 September quarter, the Australian inflation rate reached 7.3 percent, the highest level since 1990.
While Chalmers said the Treasury and the Reserve Bank expected inflation to peak in the December quarter, he warned that living cost pressures would not ease up.
“We’ll know before long whether or not that was the peak or not,” he told reporters in Brisbane….