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Market Update 13 May 2022
The recent surge in inflation both domestically and globally is well known, with Australian annual headline inflation increasing to 5.1% over the year to March (the highest in 22 years) and the trimmed mean (the Reserve Bank’s preferred underlying inflation measure) at 3.7% per annum, well above the 2-3% inflation target and the highest rate since 2009.
Planning to retire
Market Update 6 May 2022
THE BIG PICTURE
* With the COVID-19 pandemic, flooding and Ukraine-Russia war creating headwinds, Treasurer Josh Frydenberg is emphasising the “fiscal dividend of a stronger economy”.
* Budget deficit estimated to be around $70 billion, instead of the $98.9 billion estimated in the mid-year budget review in December 2021