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

I think it's all covered in the Statement on monetary policy, where the bank does acknowledge that energy bill price relief will put downward pressure on headline inflation. But underlying inflation, which is what the shadow Treasurer has focused on and says is the more important measure, has moderated for six consecutive quarters. For six consecutive annual quarters we have seen moderation in underlying inflation. If those opposite are cross and losing their minds over inflation with a three in front of it, imagine how furious they must have been at themselves when it had a six in front of it? Imagine! At the point that government was handed over, inflation had a six in front of it, and you had a budget which spent $40 billion. They are the measures and they're decisions you took. When inflation was the highest, you went on a spending spree. (Time expired)