Curbing inflation remains a big challenge

SYDNEY: Australia’s Treasurer Jim Chalmers says that stubbornly-high inflation in the country has likely peaked, but concedes it remains a big economic challenge.

Inflation is running at a 32-year high of 7.8% is only expected to slow to the top of the Reserve Bank of Australia’s (RBA) target range of 2% to 3% by mid-2025.