‘Rates are going up’: Inflation rises from 3.6 to 4 per cent
Liberal MP Zoe McKenzie says it sounds like “rates are going up”.
Australia’s inflation rate rose from 3.6 per cent to 4 per cent in May.
Markets are now predicting a 67 per cent chance of a rate hike in August.
“It sounds like rates are going up,” Ms McKenzie told Sky News Australia.
“Most people I speak to are surprised they didn’t go up last time.
“The average household is already paying $25,000 more in their mortgage … and it’s likely to go up again.”
‘Rates are going up’: Inflation rises from 3.6 to 4 per cent