Today\u2019s monthly Consumer Price Index (CPI) data has shown the impact of inflation on everyday Australians is real and it is acute.<\/p>\n\n\n\n
The headline inflation rate of 5.2% remains well above the Reserve Bank of Australia\u2019s target band of 2-3%. Soaring prices of electricity, gas, insurance, rent and automotive fuel mean what Australians are feeling is far worse than the headline figure suggests.<\/p>\n\n\n\n
Excluding volatile items, CPI also remains well above the headline rate at 5.5% with annual trimmed mean inflation at 5.6%.<\/p>\n\n\n\n
Shadow Treasurer Angus Taylor said household budgets are being squeezed at every possible angle under Labor.<\/p>\n\n\n\n
\u201cSoaring energy bills, rising grocery prices, sky high mortgages and rents and now escalating fuel prices. How much more can Australians cop?\u201d Mr Taylor said.<\/p>\n\n\n\n
\u201cDespite promising day after day to bring the cost of living down before the election, Labor has made a bad situation worse.<\/p>\n\n\n\n
\u201cThe Coalition has been calling on the government for over a year to rein in its spending to take pressure off prices but Deutsche Bank analysis this week has shown Labor governments around the country increasing spending by 2% of GDP.<\/p>\n\n\n\n
\u201cFamilies are paying a hefty price for Labor\u2019s failure to take inflation seriously.<\/p>\n\n\n\n
\u201cEnergy companies told the Cost of Living Committee there\u2019s been a dramatic increase in the number of Australians struggling to pay their energy bills with more people now accessing hardship programs than during the COVID pandemic.<\/p>\n\n\n\n
\u201cDespite the real pain families are feeling, the Treasurer started the week claiming balancing growth with keeping inflation low was a \u2018narrow\u2019 and \u2018technical\u2019 objective.<\/p>\n\n\n\n
\u201cThis is a government missing in action on the fight against inflation and is distracted by its Canberra Voice and repaying favours to its biggest donors \u2013 the unions.<\/p>\n\n\n\n
\u201cLabor must treat inflation as priority one, two and three. Unfortunately that\u2019s not what we\u2019re seeing and it\u2019s hardworking Australians paying the price.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"
Today\u2019s monthly Consumer Price Index (CPI) data has shown the impact of inflation on everyday Australians is real and it is acute. The headline inflation rate of 5.2% remains well above the Reserve Bank of Australia\u2019s target band of 2-3%. Soaring prices of electricity, gas, insurance, rent and automotive fuel mean what Australians are feeling … Continue reading “Nothing technical about inflation pain”<\/span><\/a><\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[],"class_list":["post-23138","post","type-post","status-publish","format-standard","hentry","category-aussie"],"_links":{"self":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/23138","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/comments?post=23138"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/23138\/revisions"}],"predecessor-version":[{"id":23139,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/23138\/revisions\/23139"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=23138"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=23138"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=23138"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}