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Escalating Middle East conflict substantial threat to global inflation: Australian Treasurer

NAMPA / Xinhua
2026-07-28
CANBERRA, July 28 (Xinhua) -- Australian Treasurer Jim Chalmers on Tuesday warned that recent escalations of the conflict in the Middle East pose a substantial threat to global inflation. Chalmers on Tuesday released a briefing from the Treasury warning that the world has "weaker buffers" to absorb oil supply shocks caused by the conflict. The briefing said that the initial price shock at the outset of the conflict in February was contained......
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GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

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GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

NAMPA
GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

NAMPA
GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

NAMPA
GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

GLASGOW, 27 July 2026 – Namibia's Chenoult Lionel Coetzee in action during the men's long jump qualification at Scotstoun Stadium during the Glasgow 2026 Commonwealth Games in Scotland. (Photos: Hesron Kapanga) NAMPA

NAMPA
GLASGOW, 26 July 2026 - Philip Pumulo Mutakela Haoseb celebrating after his win against Charif Yaya of Togo during the Round of 16 bouts at the Commonwealth Games in Glasgow, Scotland. Haoseb secured victory with a second-round knockout to advance to the quarter-finals. (Photo: Hesron Kapanga) NAMPA

GLASGOW, 26 July 2026 - Philip Pumulo Mutakela Haoseb celebrating after his win against Charif Yaya of Togo during the Round of 16 bouts at the Commonwealth Games in Glasgow, Scotland. Haoseb secured victory with a second-round knockout to advance to the quarter-finals. (Photo: Hesron Kapanga) NAMPA

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GLASGOW, 26 July 2026 - Philip Pumulo Mutakela Haoseb celebrating after his win against Charif Yaya of Togo at the Commonwealth Games in Glasgow, Scotland. Haoseb secured victory with a second-round knockout to advance to the quarter-finals. (Photo: Hesron Kapanga) NAMPA

GLASGOW, 26 July 2026 - Philip Pumulo Mutakela Haoseb celebrating after his win against Charif Yaya of Togo at the Commonwealth Games in Glasgow, Scotland. Haoseb secured victory with a second-round knockout to advance to the quarter-finals. (Photo: Hesron Kapanga) NAMPA

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GLASGOW, 26 July 2026 - Coach Albertus Tamaseb inspecting Philip Pumulo Mutakela Haoseb (in red) ahead of his fight against Charif Yaya of Togoat the Commonwealth Games in Glasgow, Scotland. Haoseb secured victory with a second-round knockout to advance to the quarter-finals. (Photo: Hesron Kapanga) NAMPA

GLASGOW, 26 July 2026 - Coach Albertus Tamaseb inspecting Philip Pumulo Mutakela Haoseb (in red) ahead of his fight against Charif Yaya of Togoat the Commonwealth Games in Glasgow, Scotland. Haoseb secured victory with a second-round knockout to advance to the quarter-finals. (Photo: Hesron Kapanga) NAMPA

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