New data from the ABS shows annual headline inflation rose in expected ways in August but underlying inflation remained stable.
These numbers confirm the overwhelming influence on inflation in August was higher global oil prices.
While inflation is higher than we’d like, it remains much lower than what it was earlier in the year and much lower than we inherited.
We recognise people are under pressure - that’s why we’re rolling out responsible cost-of-living relief including cutting taxes, more bulking billing, cheaper medicines and supporting higher wages, at the same time as we’re responsibly managing the budget.