Anthony Albanese has snapped at Nine’s Sarah Abo after the Today host pressed him on his government’s fiscal management.
Ms Abo was drilling the Prime Minister on inflation, which dropped in August, according to official data released on Wednesday.
But analysts have said the situation, while improving, was more complicated, warning against taking the new figures on face value.
“You know, and as economists have told us as well, that that 2.7 per cent rate is really just mirroring … the energy rebate that’s out there, and actually the inflation rate is 3.5 per cent,” Ms Abo said.
Anthony Albanese has snapped at Nine’s Sarah Abo after the Today host pressed him on his government’s fiscal management. Picture: Nine News
But the presenter was cut off mid sentence when Mr Albanese interjected.
“No, that’s not right!” he said.
Ms Abo tried to continue, saying that Reserve Bank chief Michele Bullock “hasn’t moved the rates,” but the Prime Minister interrupted again.
“That’s not right,” he said.
“Sarah, with respect, every single one of the inflation figures, whether it be the excluding volatile, is down from 3.7 to three, trim means down from 3.8 to 3.4 and the headline figures down from 3.5 to 2.7.
“Every one of the figures that were released yesterday is heading in the right direction. That’s a good thing.”
The Australian Bureau of Statistics reported annual headline inflation for the month of August dropped from 3.5 per cent to 2.7 per cent, with underlying inflation also fell from 3.8 per cent to 3.4 per cent.
But the Reserve Bank wants inflations to fall within 2-3 per cent, before the central bank will cut rates.
Reserve Governor Michele Bullock says bank’s board is was firmly sticking to its target inflation band and is looking for ‘sustainable’ moves downward before cutting rates. Picture: NewsWire / John Appleyard
Ms Bullock made clear on Tuesday, when the central bank decided to hold the official cash rate 4.35 per cent, the bank’s board was firmly sticking to its target inflation band and would look for “sustainable” moves downward before cutting rates.
In her interview with the Prime Minister, Ms Abo pushed on, asking if he thought the Reserve Bank’s governor was wrong.
But Mr Albanese dodged the question.
“What our job has been is to get that downward pressure on inflation at the same time as we’ve delivered on cost of living relief, including the energy bill relief,” he said.
“We think that’s a good thing, that that’s put downward pressure on inflation.
“But at the same time as well, tax cuts for every taxpayer, fee free TAFE, cheaper childcare.
“All of these measures making a difference for people at the same time as wages are increasing because we want people to earn more and to keep more of what they earn.”
Leave a Reply