{"id":570657,"date":"2026-03-28T20:36:30","date_gmt":"2026-03-28T20:36:30","guid":{"rendered":"https:\/\/www.newsbeep.com\/au\/570657\/"},"modified":"2026-03-28T20:36:30","modified_gmt":"2026-03-28T20:36:30","slug":"economists-warn-middle-east-conflict-could-push-australian-inflation-to-mid-sixes","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/au\/570657\/","title":{"rendered":"Economists warn Middle East conflict could push Australian inflation to mid-sixes"},"content":{"rendered":"<p>The Middle East conflict may push inflation as high as the mid-6s by the middle of the year, economists warn, as businesses beyond the local petrol station start to slug consumers with higher prices from groceries to airfares.<\/p>\n<p>The war in the Middle East has effectively shut the Strait of Hormuz, through which <a href=\"https:\/\/www.afr.com\/markets\/equity-markets\/24-days-to-disaster-trump-s-new-deadline-won-t-change-oil-shock-maths-20260326-p5zj2r\" rel=\"nofollow noopener\" target=\"_blank\">one-fifth of global oil<\/a> supply passes. As a result of the disruption to supply, the price of Brent crude \u2013 the global benchmark price for oil \u2013 has risen from pre-war levels of around $US70 a barrel to above $US100 a barrel.<\/p>\n<p>Loading&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"The Middle East conflict may push inflation as high as the mid-6s by the middle of the year,&hellip;\n","protected":false},"author":2,"featured_media":570658,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[11],"tags":[64,63,99,164],"class_list":["post-570657","post","type-post","status-publish","format-standard","has-post-thumbnail","category-economy","tag-au","tag-australia","tag-business","tag-economy"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/570657","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/comments?post=570657"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/posts\/570657\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media\/570658"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/media?parent=570657"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/categories?post=570657"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/au\/wp-json\/wp\/v2\/tags?post=570657"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}