Reserve Bank says jobless spike to 4.5pc and 140,000 lost jobs needed to tame inflation

If you're doing it tough already from the surging cost of living, here's some news that won't make your day.

The Reserve Bank is warning it needs to dramatically lift the jobless rate to pull inflation lower - meaning that around 140,000 people might need to lose their jobs.

RBA deputy governor Michelle Bullock's adherence to economic theory about containing inflation has angered unions who say workers shouldn't be paying the price.

Here's my analysis on The World Today