Everyone's getting mugged by inflation – and you've got one man to blame

SMH · Shane Wright · Wednesday 29 April 2026

Everyone's getting mugged by inflation – and you've got one man to blame

Shane Wright argues Trump's war with Iran is the sole reason Australian inflation is climbing instead of falling, leaving the Reserve Bank cornered.

Blaming Trump for Australian inflation is like blaming the weather for a leaky roof. We've been a price-taker on fuel since Menzies decided refining was someone else's problem, and every treasurer since has called that strategy a feature. The bowser writes monetary policy now. Martin Place just takes notes.

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