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The R-word returns: why Australia faces a recession-like squeeze

Published by Australian Financial Review · Australia 1 d ago
Inflation above the 2.5 per cent midpoint of the RBA’s target range is costing the average household $14,500 a year. Bryan Cook
Inflation above the 2.5 per cent midpoint of the RBA’s target range is costing the average household $14,500 a year. Bryan Cook · Australian Financial Review

Detailed summary

Households face a bleak year ahead: falling real wages, dropping home values, stalled productivity and rising bills hitting families and firms.

Australian and American politics this week laid bare an uncomfortable truth: inflation is an economic and political cancer.

Untreated, it metastasises into a wealth-destroying spiral that only the most painful, aggressive interventions can cure.

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