Australian Treasurer warns of higher inflation to come, jobs hit also ...Middle East

Australian Treasurer Chalmers will speak on Tuesday (local Australian time), addressing the impact of a cyclone (that was downgraded from cyclone when it made landfall) that hit coastal communities in Queensland and NSW.

Chalmers will speak of:

preliminary estimates of the GDP subtraction of around quarter of a percentage point off quarterly growthcould also lead to upward pressure on inflation via increased building costs, damaged crops raising prices for staples like fruit and vegetablestemporary shutting of businesses due to the cyclone lost about 12 million work hours This article was written by Eamonn Sheridan at www.forexlive.com.

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