Anthony Albanese (Grayndler, Australian Labor Party, Prime Minister) Share this | Hansard source

Here's what the RBA governor had to say. 'Wages growth is stronger than it was a few years ago, which is a welcome development. It is also positive that the rate of wages growth remains consistent with the inflation target.' That's important, so it's not feeding into wage-price inflation. That isn't occurring. So the RBA governor has welcomed what we have done. He then went on to say, importantly: 'The monthly CPI indicator for January published last week provided support to the idea that headline inflation has peaked in Australia. Overall, we expect that inflation will trend lower this year and next.'

We understand that inflation has a disproportionate impact on those people who have less income. That's just a fact. That's why we're addressing these issues. What I don't understand is why those opposite oppose every one of the measures that are put forward to take pressure off cost of living.

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