Australian Treasurer Chalmers says inflation expected to peak in Q4 2022 at 7.75%

I had the main points of what Chalmers would be saying earlier, here:

ICYMI: Australia has cut its economic forecasts, citing high inflation, slow global growth

Giving his speech now, more:

• Inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term now forecast to peak at 7.75% in the December quarter
• Headline inflation seen at 5.5% by middle of 2023, 3.5% by end of 2023, 2.75% by middle of 2024
• Final budget outcome for 2021-22 likely to show a dramatically better-than-expected outcome
• Unemployment rate expected to remain low before returning to 3.75% by June 2023 and 4% by June 2024
• Short, medium-and-longer-term pressures on the budget are more pronounced
• Upgrades forecast for nominal wages growth to 3.75% this financial year and next
• Real wages are expected to start growing again in 2023-24

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AUD barely changed.