Trump’s re-election may have helped Albanese – but the US war in Iran is creating economic conundrums

By Jonathan Barrett Business editor · The Guardian World

Resurgent inflation, already a factor before the Middle East conflict, now risks intensifying, creating a problem for the prime minister Follow our Australia news live blog for latest updates Get our breaking news email , free app or daily news podcast Donald Trump’s re-election helped Anthony Albanese win a landslide election, but now threatens to derail his second term of government, with the Labor government’s fortunes increasingly tethered to the US president’s policy agenda. Trump’s Middle East incursion triggered a huge spike in energy costs, propelling oil prices to their highest level in four years, as fears of a prolonged regional conflict took hold. Continue reading...