Australian treasurer blames Middle East conflict for rising inflation, voters skeptical

The Guardian reported that Australian treasurer Jim Chalmers is attributing the latest shocking inflation figures to the worsening Middle East conflict. He made the claim as a rate rise that is "all but certain" looms next week. The outlet noted that while Chalmers argues the conflict is driving price pressures, voters are not convinced by his explanation. The article also mentioned a broad consensus that "the end of war in the Middle East can’t come soon enough" amid the economic concerns.

The treasurer’s stance highlights a political challenge as authorities prepare for an imminent monetary policy decision.

Why it matters

The treasurer’s attempt to link inflation to an external conflict faces public scepticism, which could influence political support ahead of a likely rate increase.

Key details

Location

Australia · Oceania

Reported by

The Guardian

First reported

28 Oct 2026, 11:28 IST

Key names

Jim Chalmers, Trump, Middle East

Section

Business

Sources

This is an independent summary. Read the full, original reporting from the publisher:

• The GuardianJim Chalmers is blaming Australia’s accelerating inflation on Trump – but voters aren’t buying it 28 Oct, 11:28

Read the full story at The Guardian ↗

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