Australian Prime Minister Scott Morrison on Thursday blamed Ukraine’s war and the disruption of COVID-related supply chain over a recorded increase in the cost of living that could jeopardize his chances of winning a national election within weeks.
Australian consumer prices have risen sharply year-on-year over the past two decades, data released Wednesday, as fuel costs, housing and food prices rise, further fueling speculation that interest rates could rise from a record decline soon next week. We are still feeling the effects of the extraordinary economic times we live in, ”Morrison said during a press conference, adding that the closure of COVID-19 in China had disrupted Ukraine’s chains and conflict.
Any increase in prices at the next Reserve Bank of Australia policy meeting on May 3 will result in millions of homeowners paying more for their homes for the first time in ten years, as the May 21 election campaign intensifies. will rise next week and a third see an increase in the chances of an increase.
The last time the central bank raised prices during the election campaign was in 2007, when Prime Minister John Howard continued to lose his vote and his seat. Morrison said he does not see the same suffering.
“We are in the midst of a global epidemic with war in Europe, those conditions did not exist in 2007. The Australian people understand that,” he said. Morrison’s Liberal-National Party, with one seat in the lower house of parliament, is following Labor-left, voting has shown, in a campaign against climate change, national security and the cost of living.
Morrison has been praising his government’s management of the economy during the COVID-19 violence and rapid recurrence. However, as inflation rises twice as fast as wages, real income is red.
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