{"id":26936,"date":"2024-05-30T14:34:47","date_gmt":"2024-05-30T14:34:47","guid":{"rendered":"http:\/\/www.16news.com.au\/?p=26936"},"modified":"2024-05-30T14:34:47","modified_gmt":"2024-05-30T14:34:47","slug":"australians-suffering-from-labors-confused-economic-priorities","status":"publish","type":"post","link":"http:\/\/www.16news.com.au\/index.php\/2024\/05\/30\/australians-suffering-from-labors-confused-economic-priorities\/","title":{"rendered":"Australians suffering from Labor&#8217;s confused economic priorities"},"content":{"rendered":"\n<p>Today\u2019s monthly Consumer Price Index (CPI) data shows Labor\u2019s cost of living crisis is hurting hardworking Australians.<\/p>\n\n\n\n<p>Core inflation \u2013 the RBA\u2019s preferred measure \u2013 rose to 4.1%, well above the RBA\u2019s target.<\/p>\n\n\n\n<p>Concerningly just over the past year, domestic inflation has risen 5%, while imported inflation has risen by 1%.<\/p>\n\n\n\n<p>Australians continue to face one of the highest and most persistent rates of inflation of any advanced economy because Labor has failed to tackle the source of the problem.<\/p>\n\n\n\n<p>And with Labor\u2019s big spending, big government third budget, Australian households and businesses face higher prices, higher interest rates and higher taxes for longer.<\/p>\n\n\n\n<p>Under the nearly two years of Labor\u2019s homegrown inflation, the price of everyday essentials have gone up by:<\/p>\n\n\n\n<ul class=\"wp-block-list\"><li>Food 11%<\/li><li>Housing 14%<\/li><li>Rents 13%<\/li><li>Electricity 20%<\/li><li>Gas 25%<\/li><li>Health 11%<\/li><li>Education 11%<\/li><li>Financial and insurance 15%<\/li><\/ul>\n\n\n\n<p>Consumer confidence and retail trade data all show that households are struggling to keep their heads above water.<\/p>\n\n\n\n<p>Meanwhile, nearly 17,000 businesses have become insolvent since the Albanese government came to power.<\/p>\n\n\n\n<p>Shadow Treasurer Angus Taylor said Australians deserve better than a weak Labor government that fails to provide economic leadership.<\/p>\n\n\n\n<p>\u201cThis is the consequence of the Albanese Labor Government\u2019s confused economic priorities.<\/p>\n\n\n\n<p>\u201cUnder Labor, we\u2019ve seen a collapse in Australians\u2019 standard of living and productivity. Australian households are in a recession.<\/p>\n\n\n\n<p>\u201cBut instead of reining in spending and getting government out of the way, the Albanese Labor Government has been doing the opposite.<\/p>\n\n\n\n<p>\u201cOur economy is suffering from a weak Prime Minister and weak Treasurer who have no vision for Australia\u2019s future.<\/p>\n\n\n\n<p>\u201cHardworking Australian families and businesses are sick of the government\u2019s excuses. It\u2019s time for Anthony Albanese and Jim Chalmers to take responsibility for their economic failures.<\/p>\n\n\n\n<p>\u201cThis is Labor\u2019s homegrown inflation.\u201d<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Today\u2019s monthly Consumer Price Index (CPI) data shows Labor\u2019s cost of living crisis is hurting hardworking Australians. Core inflation \u2013 the RBA\u2019s preferred measure \u2013 rose to 4.1%, well above the RBA\u2019s target. Concerningly just over the past year, domestic inflation has risen 5%, while imported inflation has risen by 1%. Australians continue to face &hellip; <a href=\"http:\/\/www.16news.com.au\/index.php\/2024\/05\/30\/australians-suffering-from-labors-confused-economic-priorities\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Australians suffering from Labor&#8217;s confused economic priorities&#8221;<\/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-26936","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\/26936","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=26936"}],"version-history":[{"count":1,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26936\/revisions"}],"predecessor-version":[{"id":26937,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/posts\/26936\/revisions\/26937"}],"wp:attachment":[{"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/media?parent=26936"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/categories?post=26936"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.16news.com.au\/index.php\/wp-json\/wp\/v2\/tags?post=26936"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}