Malcolm Turnbull (Wentworth, Liberal Party, Shadow Treasurer) Share this | Hansard source

The Assistant Treasurer said, ‘That’s right.’ It is completely untrue. In fact, as recently as 14 June last year the Reserve Bank Governor, Glenn Stevens, said in a speech where he considered the whole economic outlook that inflation was actually moderating. He said:

Inflation did pick up in Australia during the middle years of the current decade ... That peak in the CPI inflation rate was affected by some temporary factors, which have now reversed.

He went on to say:

The most recent data for inflation ... showed a more welcome trend, with underlying measures of inflation running at a reduced pace and the CPI rate on its way down as well.

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