At its annual meeting in Washington, the chief economist at the International Monetary Fund, Pierre-Oliver Gourinchas delivered the message people desperately want to hear, of falling inflation.
But the International Monetary Fund expects Australian inflation to rise from 2.8 per cent to 3.6 per cent by the end of next year.
The outlook places Australia among the worst-performing developed nations in the fight against the cost-of-living crisis.
The forecast comes just after the deputy governor of the Reserve Bank of Australia dampened expectations of a rate cut on Monday, and it could mean tougher conditions for Australian households.
