# The worst of inflation is ‘well and truly behind us’, Jim Chalmers said last year. That feels especially enraging right now: PVO

- URL: https://talkfuse.com/story/the-worst-of-inflation-is-well-and-truly-behind-us-jim-chalmers-said-last-year-that-feels-especially-enraging-right-now-pvo/
- Published: 2026-11-03T03:38:02+00:00
- Updated: 2026-11-03T04:52:54+00:00
- Original publisher: Daily Mail (publisher lean: Right)
- Original article: https://www.dailymail.com/news/article-16260717/The-worst-inflation-truly-Jim-Chalmers-said-year-feels-especially-enraging-right-PVO.html?ns_mchannel=rss&ns_campaign=1490&ito=1490
- Topics: Business, Economy, Government, Politics, World

## Key points

- The Reserve Bank lifted Australia’s cash rate to 4.85 per cent.
- The increase is the fifth this year and tightens pressure on borrowers.
- The article calls for the government to use fiscal policy against inflation.

## Summary

Australia’s Reserve Bank has raised its cash rate by 0.25 percentage points to 4.85 per cent, the fifth increase this year, adding pressure to households and businesses already facing high living costs. The article argues that while rate rises are necessary to curb persistent inflation, they may also slow spending, investment and hiring, and that the government should use fiscal policy to help contain price pressures.

The commentary contrasts Treasurer Jim Chalmers’s January last year claim that the worst of inflation was “well and truly behind us” with the renewed rate increases. It says the government could reconsider spending and infrastructure commitments, and argues that its changes to negative gearing and capital gains tax concessions are also contributing to weaker housing prices. Citing a Commonwealth Bank estimate, it says those tax changes could leave prices about 3 per cent lower than they otherwise would have been.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.