Chalmers issues bleak budget warning as war takes toll on economyThe treasurer has revealed the ‘main game’ of next month’s federal budget following a sharp rise in inflation.2 min read

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Treasurer Jim Chalmers has warned Australians more cost-of-living pain is on the way, as surging inflation fuels expectations of another interest rate hike.New figures show Australia’s inflation rate ...

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Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"CPI","symbol_name":"IQ Real Return ETF","start_time":0,"source_url":"https://7news.com.au/sunrise/more-cost-of-living-pain-on-the-way-as-jim-chalmers-issues-bleak-warning-ahead-of-may-12-budget-c-22212723","article_id":"2631784835","we_media_id":null,"thumbnails":[],"rights":{"source":"7news_stock","url":"https://7news.com.au/sunrise/more-cost-of-living-pain-on-the-way-as-jim-chalmers-issues-bleak-warning-ahead-of-may-12-budget-c-22212723","rn_cache_url":null,"directOrigin":true},"url":"https://stock-news.laohu8.com/highlight/detail?id=2631784835","pubTimestamp":1777478400,"columns":[],"sourceInfo":{"source_id":"7news_stock","name":"7NEWS"},"weMediaInfo":null,"summary":"Treasurer Jim Chalmers has warned Australians more cost-of-living pain is on the way, as surging inflation fuels expectations of another interest rate hike.New figures show Australia’s inflation rate ","collect":0,"end_time":0,"defaultTopTitle":"7news.com.au","property":[],"viewcount":null,"language":"en","relate_stocks":{"CPI":"IQ Real Return ETF"},"translate_title":"由于战争对经济造成损害，查默斯发出黯淡的预算警告在通胀急剧上升后，财政部长透露了下个月联邦预算的“主要博弈”。2分钟阅读","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"CPI":1},"content_text":"Treasurer Jim Chalmers has warned Australians more cost-of-living pain is on the way, as surging inflation fuels expectations of another interest rate hike.New figures show Australia’s inflation rate surged 1.1 per cent in March, pushing the annual consumer price index (CPI) to 4.6 per cent, with a record jump in fuel prices driving the increase and making an interest rate hike next Tuesday more likely.WATCH THE VIDEO ABOVE: Inflation warning as tax reforms target housing affordabilityKnow the news with the 7NEWS app: Download today ArrowThe spike is the first major economic indicator to reflect the impact of the Middle East conflict, with rising petrol prices already flowing through to households and businesses.Speaking on Sunrise, Chalmers warned the impact of the Middle East conflict would continue to flow through the economy.“I think everyone expects that this hefty price that Australians are paying for the war in the Middle East will continue to reverberate around our economy, whether it’s an impact on prices or on economic growth,” he said.The treasurer said rising petrol prices were already feeding into broader inflation as the government finalises its budget forecasts, adding: “We expect that to continue for a little while yet.”With markets now tipping a rate hike as soon as next Tuesday, attention is turning to how the government plans to ease longer-term cost pressures.Federal budget to focus on housing supplyChalmers said housing would be a key focus ahead of the federal budget, describing supply as the central issue.Be the first to know: Add 7NEWS as your preferred news source on Google“Housing supply is the main game,” he said.The government is weighing potential changes to property tax settings, including negative gearing and the capital gains tax discount, ahead of the May 12 budget.Chalmers said the budget had not yet been finalised, but confirmed housing affordability and access were key considerations.“There are some issues of intergenerational fairness that we’re very focused on,” he said.“One of those issues is around whether or not young people can get a toehold in the housing market.”He acknowledged concerns any changes could push up rents if investors exit the market, but said the government was carefully considering the broader impact.“We think very carefully about any implications of any changes that we make when it comes to housing or when it comes to tax reform,” he said.Minister’s COVID warning to Aussie grocery shoppers as war continues2 min readWarning over the one ‘big test’ that looms ahead of budget2 min 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