Posted 11/23/2023, 5:06:40 AM
PM Albanese, RBA Governor Differ on Source of Inflation as Rates Rise Again
- PM Albanese insisted inflation is a global phenomenon, differing from RBA Governor's view that it's increasingly "homegrown"
- RBA Governor said inflation is driven by domestic services, not imported goods
- Shadow Treasurer accused PM of being at odds with RBA on source of inflation
- RBA raised rates to 4.35% in November, adding $76/month to average mortgage
- RBA Governor said demand is exceeding supply across services like hairdressers and dining out