Inflation in the United States has accelerated to 9.1 per cent, which will all but certainly have an impact on what happens here in Australia.

But it’s not all bad news, says one of Julia Gillard’s former economic advisers.

Stephen Koukoulas is Managing Director of Market Economics and told Neil Mitchell while interest rates would keep rising, there was “tentative” evidence the cost of petrol may soon start heading back down.

Press PLAY below to hear him share the good and bad news

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