Pressure on treasurer mounting as inflation rises

The federal government has defended its record of tackling domestic pressures on the economy after the Reserve Bank hiked interest rates for the fourth time this year. Treasurer Jim Chalmers has pointed to the war in the Middle East as a source of the country's inflation challenge, as new data reveals fuel prices skyrocketed by 15 per cent in a month. SBS News is Australia's trusted news source for the latest news from Australia and across the world. Subscribe to the SBS News YouTube channel: https://www.youtube.com/@SBSNews Follow SBS News on Instagram: https://www.instagram.com/sbsnews_au Follow SBS News on TikTok: https://www.tiktok.com/@sbsnews_au Follow SBS News on X: https://www.twitter.com/SBSNews Follow SBS News on Facebook: https://www.facebook.com/sbsnews Apple News: https://trib.al/MTx0gUe For the latest news, visit www.sbs.com.au/news Network Terms & Conditions: https://sbs.com.au/terms Privacy Policy: https://sbs.com.au/privacy Feedback or complaints: https://sbs.com.au/complaints