00:02Inflation increased in most major advanced economies in August.
00:06Most have had a rate rise this month and all are expecting more to come.
00:11We know that Australians are under pressure and we know that rising global inflation and interest rates are making this
00:18harder.
00:19So in the face of all of this heightened global instability, it was encouraging to see underlying inflation moderate in
00:28the month-to-month figures.
00:30In monthly terms, headline inflation more than halved and underlying inflation halved.
00:38It is the case that today's result was below the median market expectation but consistent with the increases we've seen
00:46in inflation around the world.
00:48We already had an inflation challenge in our economy but the war in the Middle East is making it worse.
00:54And that's why from an economic point of view, the end of the war in the Middle East can't end
01:00soon enough.
01:03Inflation is still too high in our economy.
01:05That's why it's so important that we are managing the budget in a responsible way.
01:10We're providing cost of living relief in an affordable and ongoing way via tax cuts and boosts to bulk billing
01:16and in other ways.
01:17And we're also dealing with some of the long-standing economic challenges in our economy around productivity and the like.
01:26First stop, sono sap丸.
01:26And at least we're living in place buildings and the end of the way to save is if we're using
01:26the Europe but can've installed a segment of the Respond.
01:26Novel Inflation is also less
