Treasurer Josh Frydenberg panicked late Friday:
The inflation genie is not out of the bottle, Treasurer Josh Frydenberg insists, as the Morrison government tries to calm investors and households spooked by the global inflation-led bond sell-off that stormed Australia’s shores this week.
Mr Frydenberg said inflation had risen globally and was expected to persist longer than first thought, but current elevated prices were being driven by supply side constraints and increased demand as health restrictions ease.
