Business warns inflation burden growing and being borne by consumers

Westpac chief executive Anthony Miller says more of the burden of the conflict in the Middle East will be borne by households rather than businesses as a US truce with Iran falters and the Reserve Bank of Australia raises interest rates for the third time since the start of the year.

Miller’s comments came as the chief executives of a string of major companies warned of price shocks from higher fuel and material costs even as they were broadly optimistic about the economy, suggesting pressure on family budgets was likely to increase even if the war ended.

Source: https://www.afr.com/policy/economy/business-warns-inflation-burden-growing-and-being-borne-by-consumers-20260505-p5ztvi