Aurizon chief executive Andrew Harding has warned inflation is likely to be “longer lasting” as the rail haulage group cut its full-year outlook for coal haulage volumes and delivered a 4 per cent drop in interim net profit to $257 million.

“I share concerns for higher inflation into the future,” Mr Harding said, adding that the global debate over rising prices had shifted over the past month from inflation being seen as transitory to being viewed as a more sustained trend.