CANBERRA, ACT, Sept. 24 -- The Treasurer of Australia issued the following media release:
Underlying inflation fell in August according to new data from the Australian Bureau of Statistics.
Today's figures show the substantial and sustained progress we've made together on underlying inflation.
Despite increased volatility in the global economy, underlying inflation is within the RBA's target and that's a promising result in uncertain times.
While headline inflation fell slightly in the month, the annual rate increased slightly to 3.0percent due to base effects and the ending of state energy rebates. This outcome was within the range the market expected.
Headline inflation has been at or below threepercent for more than a year and underlying inflation has been within the Reserve Bank's target range for ninemonths in a row.
Monthly inflation figures can be volatile and are less reliable than the quarterly figures because they don't compare the same basket of goods and services from month to month.
The official quarterly numbers show that both underlying and headline inflation are at their lowest rates in almost fouryears.
This progress on inflation has given the RBA confidence to cut rates three times in sixmonths.
Inflation has more than halved since we came to office.
Headline inflation was 3.0percent through the year to August 2025, much lower than the 6.1percent we inherited.
Annual trimmed mean inflation was 2.6percent through the year to August 2025, down from 2.7percent in July and much lower than what we inherited.
These results come at a time where inflation has ticked up in parts of the world including the United States, Canada and New Zealand and remains stubbornly high in places like the United Kingdom.
Since Labor was elected, inflation is down, debt is down, real wages are growing, unemployment is low, and interest rates have fallen.
Today's figures show the Albanese Government's responsible cost of living relief measures are making a meaningful difference in easing pressure on Australians.
Rents rose 3.7percent through the year but would have risen 4.8percent without the recent increases to Commonwealth Rent Assistance.
Our policies including energy rebates, the childcare subsidies and rent assistance have helped to directly reduce inflation when it was at its peak, to allow time for the structural drivers of inflation to settle and for underlying inflation to return to the RBA's target band.
Labor's economic plan is all about helping with the cost of living at the same time as we modernise Australia's economy to boost living standards.
We know the best way to improve living standards is to make our economy more productive and resilient and our budget more sustainable and that's our focus.
Disclaimer: Curated by HT Syndication.
