2026-04-29
Today’s ABS inflation data confirms that Donald Trump’s war on Iran, fully supported by Anthony Albanese, is increasing pressure on the RBA to hike interest rates, the Greens say.
ABS figures show that inflation is now at 4.6 per cent, led by soaring transport costs which are a direct result of the pointless and illegal war in the Persian Gulf.
“Trump’s senseless war on Iran, supported on day one by the Prime Minister, is making the cost of living crisis worse for everyday Australians and increasing the risk of another interest rate rise,” Greens Economic Justice spokesperson Senator Nick McKim said.
“The longer the war drags on, the more that everyday people will pay the price, and the more excuses that corporations will have to price gouge.”
“We are now staring down the barrel of another rate rise, which will make things even worse for renters and mortgage holders who are not causing the problem and who are already being smashed by cost of living pressures.”
“The best thing Labor could do to bring down inflation is to stop backing this war and make corporate price gouging illegal across the economy.”