Inflation has 'come off' since 2022 'peaks'

Treasurer Jim Chalmers says that Inflation has “substantially” reduced since the “peaks in 2022”. The RBA is waiting on the June quarter inflation numbers before making a decision about the interest rates. “Inflation has come off really quite substantially since those peaks in 2022,” Mr Chalmers told Sky News Business Editor Ross Greenwood. “What we’ve seen around the world is that Inflation doesn’t moderate in a straight line. “Often, at around the level we’re at now, we’ve seen in other countries that it plateaus a bit before it starts to go down again."