RBA Governor Bullock: Upside inflation risks are becoming a reality; September meeting will assess the degree of tightening

Reserve Bank of Australia Governor Michele Bullock said at a parliamentary hearing on the 18th that although Australia's economic growth is slowing, some upside inflation risks appear to be materializing. She also noted that through the RBA's liaison program, it has been learned that many companies are passing on higher input costs to consumers. In an environment of persistently high oil prices, businesses are more inclined to engage in this kind of cost pass-through, which will directly intensify inflationary pressure.