Jane Hume (Victoria, Liberal Party, Shadow Minister for the Public Service) Share this | Hansard source

My question is to the Minister representing the Treasurer, Senator Gallagher. Today's monthly inflation figures confirm what Australians have been feeling: after three Labor budgets, trimmed mean inflation has jumped to 4.4 per cent, with fuel up 9.3 per cent, electricity prices up 6.5 per cent and housing costs up 5.2 per cent. Only a month ago, Minister, you stated that this government's budget is 'an inflation-fighting budget'. The targeted cost-of-living measures announced in the budget are 'expected to reduce inflation'. You went on to say, 'Inflation now has a 3 in front of it.' The forecast of Treasury has us reaching an inflation rate with 'a 2 in front of it' through this year. You also stated:

We stand by the inflation forecasts that are outlined in our budget.

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So all this rubbish that they go over about how we are exacerbating inflation—we have halved it!

Minister, doesn't today's inflation data demonstrate that the Reserve Bank's assessments are more credible than yours? (Time expired)