My question is to the Treasurer. What does today's new inflation data tell us about Australia's economy, and how does our experience compare with other countries? What does that mean for the government's economic agenda, including free trade?

Thanks to the honourable member for Aston for her work in our team and in her local community and also for the question. As we know, the new inflation numbers today show that inflation ticked up in September, and it is higher than anyone would like. We know that inflation has gone up in every major advanced economy, but we also know that that doesn't make it any easier for Australians who are facing these cost-of-living pressures. We acknowledge that, but we do more than acknowledge that: we're providing responsible cost-of-living relief and we're managing the budget and the economy in the most responsible way that we can.

You can see in these figures the very substantial impact on oil prices from the war in the Middle East. The single biggest driver of higher headline inflation was higher fuel prices. Automotive fuel rose 9.4 per cent in the month to be 23.6 per cent higher through the year, and we know that October was even more difficult on that front than what we saw in September. When you look at the data—overall, a number which is higher than we want it to be—it's also worth pointing out that, if you look at electricity prices measured by the CPI, they fell again in the month. In fact, they're down 2.4 per cent since the month of June.

All of this combination of challenges in our economy—global volatility, inflation here at home and the productivity challenge, which has been longstanding—makes the government's economic plan more important—an economic plan that includes fuel security, cost-of-living help and budget repair, finding $180 billion in savings, including a record amount of savings just in the budget in May, with more to come in the mid-year update. The productivity package is important in this regard, and tax reform is important too. We know that Australians are under pressure, and we are doing what we responsibly can to help, at the same time as we recognise the best development, from an economic point of view, would be an end to the war in the Middle East, in addition to everything that we are doing here at home.

When it comes to that economic plan, in addition to dealing with inflation in the near term and in addition to dealing with productivity in the medium term, there are some important measures before the parliament which should be passed in the interests of a stronger economy. The tax reform—the incentives for innovation and research and development—that I introduced to the parliament yesterday should be supported by this parliament, and anybody who cares about growing our economy the right way should be supporting the EU free trade agreement. This side of the House is for more trade with our trusted partners around the world in the interests of Australian jobs and the Australian economy, and, if those opposite supported those things, they'd vote for it too.