Australia’s economy is experiencing “rampant” inflation and the government needs to step in because the Reserve Bank can’t do “all the work,' says Shadow Treasurer Angus Taylor.
Australia’s economy is experiencing “rampant” inflation, and the government needs to step in because the Reserve Bank can’t do “all the work”, according to Shadow Treasurer Angus Taylor.
“Inflation is rampant through the economy now – this latest data just tells us how rampant,” Mr Taylor told Sky News Business Editor Ross Greenwood. “Seven per cent over the last 12 months, but it’s across almost every category of goods and services, particularly persistent on services, but it’s a long way back to the two to three per cent target.
“It’s going to be a hard road to get there – to expect the Reserve Bank to do all the work is nuts; frankly, they can’t do that.”
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