High petrol prices hit consumers twice as businesses pass on cost of fuel surcharges | The Business скачать в хорошем качестве

High petrol prices hit consumers twice as businesses pass on cost of fuel surcharges | The Business

Consumers are being hit harder in the pocket as companies hit customers with fuel surcharges. A growing number of businesses are warning they'll have to pass on costs as diesel and petrol prices hit record levels. AMP deputy chief economist Diana Mousina expects broader increases to prices in the next few weeks. "We've seen some transport companies, like the airlines as well as Uber, announce that they're going to be increasing prices", she says. There are predictions this will lead to higher inflation, as supply chains from food to transport are challenged. Higher inflation is also posing the risk of more rate hikes - amid predictions of the rising threat of a recession. Editor's note: This story has been edited to remove a reference to the annual rate of inflation being 3.6 per cent. The most recent ABS data show the Consumer Price Index rose by 3.7 per cent over the year to February. #ABCBusines Subscribe: http://ab.co/1svxLVE ABC NEWS provides around the clock coverage of news events as they break in Australia and abroad. It's news when you want it, from Australia's most trusted news organisation. For more from ABC NEWS, click here: https://ab.co/2kxYCZY Watch more ABC NEWS content ad-free on ABC iview: https://ab.co/2OB7Mk1 Go deeper on our ABC NEWS In-depth channel: https://ab.co/2lNeBn2 Like ABC NEWS on Facebook:   / abcnews.au   Follow ABC NEWS on Instagram:   / abcnews_au   Note: In most cases, our captions are auto-generated. #ABCNEWS #ABCNEWSAustralia