Jim Chalmers (Rankin, Australian Labor Party, Treasurer) Share this | Hansard source

As the wonderful member for Reid knows, inflation was highest, in quarterly terms, before the last election and, in annual terms, around the time of last Christmas. It has moderated since then, but we do need it to moderate further, and we need it to moderate faster. What has been clear around the world and what we expect here is that inflation doesn't always moderate in a straight line. It remains to be seen whether or not we will see that in the more volatile monthly figures later in the week.

But cost-of-living pressures are the biggest concern around the kitchen tables of this country, and they are the biggest focus of the cabinet table here in Canberra as well. We understand Australians are doing it tough, and that's why the government is rolling out billions of dollars in assistance for people under pressure—electricity bill relief, cheaper medicines, cheaper child care, increased rent assistance, increased income support, more bulk-billing, expanding PPL, fee-free TAFE, building more affordable homes, getting wages moving again. We're pleased to see a second consecutive quarter of real wages growth.

Opposition members interjecting —

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