May 29, 2026 – 4.57pmHalf of Australian businesses absorbed surging war-driven fuel costs in May rather than raising their prices, protecting consumer spending but stoking fears of a looming inflation spike.New data released by the Australian Bureau of Statistics this week showed that almost three-quarters of businesses reported that high fuel prices or limited fuel availability was having a negative impact on their business.Subscribe to gift this articleGift 5 articles to anyone you choose each month when you subscribe.Subscribe nowAlready a subscriber? Fetching latest articles