Katy Gallagher (ACT, Australian Labor Party, Minister for the Public Service) Share this | Hansard source

Thank you, Senator Bilyk. Inflation is still too high, and we understand that people are still under the pump and feeling the impacts of those price pressures, but we are making progress. Our policies in the budget will take three-quarters of a percentage point off inflation this year and half a percentage point next year. Treasury are forecasting that we could get back to the inflation target sooner than we had expected, but we understand that people are under pressure, which is why—again, it was confirmed by the ABS data released today that some of these inflation and price pressures would be even higher had we not taken the action we took in the last budget.