Senate debates

Thursday, 12 September 2024

Questions without Notice

Economy

2:06 pm

Photo of Simon BirminghamSimon Birmingham (SA, Liberal Party, Shadow Minister for Foreign Affairs) Share this | Hansard source

In June 2022 Australia's inflation was 6.1 per cent, but in the eurozone it was 8.6, in the US 9.1 per cent and in Canada 8.1 per cent. Today inflation is 3½ per cent, but in the eurozone it's 2.2 per cent, in the US 2.9 per cent and in Canada 2.5 per cent. Why was inflation better in Australia than in other nations when Labor was elected but is significantly worse today? Why are Labor's budgets keeping Australia's inflation rate higher for longer?

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