Moreover, high input costs affect production, especially for manufacturing firms, whose heavy reliance on natural gas makes them more vulnerable to high energy prices. Higher inflation is also squeezing households’ disposable income. Families have to divert a larger fraction of their income towards everyday consumption, reducing their debt servicing capacity.
When I was still Secretary of the Department of Budget and Management, I had the opportunity to work with CMU – Australia when we identified and awarded scholarships to very promising DBM employees.