Treasurer Jim Chalmbers issues dire warning ahead of new inflation figures trends now
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Treasurer Jim Chalmers is hopeful the worst of Australia's inflation crisis is in the rearview mirror ahead of the release of fresh data later this week.
But the Opposition has slammed the government for 'underestimating' the scale of the problem, accusing Dr Chalmers of already beginning his May budget 'spin'.
The latest inflation data, to be handed down on Wednesday, is expected to show another rise in December.
Estimates from both the Treasury and the Reserve Bank suggest inflation will moderate soon after the predicted spike.
Speaking with Sky News on Sunday, Dr Chalmers was quick to manage expectations the estimates would result in immediate cost of living relief for Australians.
Australians have been warning the cost of living crisis is far from over ahead of another inflation hike (pictured, shoppers in a Sydney Coles)
'We've still got a big inflation challenge in our economy even as we get to the other side of the peak,' the Treasurer said.
'Inflation will be higher than we'd like for
