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“That disparity between headline and core rates points to the major factor in the persistently high US inflation rate -- the surge in gasoline and diesel prices that has occurred as a result of Trump’s decision to go to war in the Middle East.”

“Treasurer Jim Chalmers has spent the past month defending his economic record and arguing that government spending is not the main culprit for persistently higher headline inflation and the fourth interest rate rise this year.”

“The report from the University of Michigan said US consumers are bracing for inflation of 4.6 per cent in the coming year, up from their forecast of 4 per cent the month before.”

“…rsh might add growth and AI investment to the influences on US inflation, that begs the question of why other developed economies with less growth and less AI investment – from Australia and Japan to the European Union – are also wrestling with persistently…”