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Story summary
- Australian Treasurer Jim Chalmers warned inflation could exceed Treasury forecasts amid the ongoing war in the Middle East.
- He said inflation may peak in the high fours or low fives, not the high threes.
- Chalmers expects growth to continue.
- Inflation could reach 6.4% if oil prices hit US$150 per barrel.
- Federal and state leaders plan to coordinate measures to address the fuel crisis.
