GRONGHUI, May 13 | The Australian Government said that inflation is expected to fall faster than expected, reaching the 2% to 3% range set by the central bank by the end of this year. At the same time, the country also lowered its economic forecast. In December of last year, when the Australian Government announced its economic outlook, it is expected that inflation will fall back to 3.75% in the middle of this year and fall further to 2.75% in the middle of next year. Only then will it reach the central bank's inflation range. The Australian Government's latest estimate is more optimistic than the Bank of Australia economists' forecasts. The latter estimates that inflation was 3.6% in the first quarter and rose to 3.8% at the end of the second quarter, and will remain at this level until the end of the year. Australian Treasurer Jim Chalmers said on Sunday that new measures to help citizens cope with high inflation will be announced on Tuesday. Furthermore, the Australian Government's latest estimate is that economic growth for 2024-25 is 2%, lower than the 2.25% forecast in December, while the 2025-26 economic growth forecast also fell from 2.5% to 2.25%. According to the announcement, the reason for the reduction in economic growth is that the outlook for the global economy is uncertain, and the environment of high inflation and high interest rates may still cause problems for the economy.