Inflationary pressure not from government spending: Jim Chalmers

Treasurer Jim Chalmers says the factors putting pressure on inflation are not from “government spending”. The RBA is waiting on the June quarter inflation numbers before making a decision about the interest rates. “The Reserve Bank Board, when it takes it’s decisions independently, it weighs up a whole bunch of factors in our economy,” Mr Chalmers told Sky News Business Editor Ross Greenwood. “When you think about the inflationary pressures in our economy, we expect the big drivers on Wednesday to be things like insurance and rent and petrol. “Of course, petrol is impacted by the global oil price and all this uncertainty we’re seeing in the Middle East. “None of those factors are about government spending.”