'Behind all of these statistics are real people who are hurting.' 9News
figures for the three months to June will be released.
Wednesday's inflation figures would be "absolutely make or break" for whether Australians are to be hit with another interest rate rise or not, Rich Insight economist Chris Richardson said.While inflation was still too high, it was heading in the right direction, Richardson said, adding that markets were tipping one last rate rise to come.
But outgoing RBA Governor Philip Lowe warned it was likely more hikes would be needed to bring inflation down to the target band of under 3 per cent annually.Australians with an average home loan are now paying an additional $1264 in monthly mortgage repayments since the cash rate was 0.10 per cent in April 2022.
"And they're not getting what they need from the Albanese government. They're not getting a proper plan on inflation."
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