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Labor is celebrating while Aussies still feeling the pain: Coalition
The government has been buoyed but the latest inflation figures released yesterday, hopeful it will lead to the Reserve Bank cutting interest rates next month.
But Shadow Treasurer Angus Taylor insists there is still a long way to go before Australians start feeling the benefits.
“Australians have been hit very hard by inflation, interest rates are higher, personal income taxes,” he told Nine this morning.
“The pathway back is a long one. And for the
treasurer to declare victory at this point suggests to me that he really doesn’t understand what’s going on in Australian households and businesses.”
Yesterday’s quarterly figures released by the Australian Bureau of Statistics were below expectations. It even fell below the RBA’s own forecast of 3.4 per cent.
Headline inflation dropped to 2.4 per cent, inside the bank’s 2 to 3 per cent target range. The figure the RBA prefers to look at, underlying inflation, fell to 3.2 per cent for the December quarter — the lowest it’s been in three years.
👋 Good morning
Hiya friends. Welcome to our politics live blog. Courtney Gould here from the ABC’s Parliament House team here to guide you through the day.
It’s been a busy morning so far so let’s just dive straight in.
