17 March | Other

Australian Treasurer warns about possible acceleration of inflation due to Cyclone Alfred

Australian Treasurer warns about possible acceleration of inflation due to Cyclone Alfred

Australian Treasurer Jim Chalmers warned that consumer prices could rise in the country after Cyclone Alfred.

The Australian economy lost an estimated $759 million as a result of the disaster, according to initial government estimates. This could wipe a quarter of a percentage point from quarterly GDP growth and is likely to quicken inflation, Chalmers said.

Increasing consumer prices pose a challenge for both consumers and the government, striving to ease rising living costs ahead of the upcoming parliamentary elections, Bloomberg explains.

According to the Treasurer, the 2025–2026 budget will include no less than $759 million in costs and provisions. These will be used to provide help for affected people and businesses.

Elena Dorokhina MarketCheese
Period: 10.07.2025 Expectation: 1200 pips
Selling USDJPY during rebound with 142.430 target
Today at 10:33 AM 10
Period: 11.07.2025 Expectation: 220 pips
Heatwaves across Europe and US support gas price recovery from recent lows
Today at 09:27 AM 15
Period: 08.07.2025 Expectation: 1500 pips
EURUSD rally faces potential correction toward 1.165
Yesterday at 06:46 AM 54
Period: 09.07.2025 Expectation: 1400 pips
USDCAD declines amid US dollar weakness and improving Canadian trade prospects
Yesterday at 06:07 AM 38
Period: 08.07.2025 Expectation: 3000 pips
Buying Bitcoin during consolidation before July growth wave with 110,000 target
01 July 2025 62
Period: 07.07.2025 Expectation: 2000 pips
Renewed tensions between Musk and Trump weigh on Tesla shares
01 July 2025 53
Go to forecasts