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Inflation Up Slightly; Hockey Blames Carbon Tax

Inflation edged up slightly in the December quarter and Treasurer Joe Hockey says it’s the fault of the carbon tax.

HockeyThe December quarter rise in the Consumer Price Index was 0.8%. Headline inflation was 2.7% through the year, up from 2.2% in the September quarter.

Treasurer Joe Hockey said: “The inflation rate continues to be impacted by Labor’s Carbon Tax.” He said electricity prices have increased by 22.5% since the introduction of the tax in July 2012. He called on Labor senators to pass the carbon tax repeal legislation when Parliament meets again in February.

Hockey also commented on new figures from the International Monetary Fund which project that global economic growth will increase from 3% in 2013 to 3.7% in 2014. He said: “The IMF underscores the importance of managing vulnerabilities, notwithstanding the expected strengthening in global economic activity.”

Media release from Treasurer Joe Hockey.

Consumer Price Index – December Quarter 2013

Today’s release of the Consumer Price Index (CPI) for the December Quarter shows that inflation is slightly above the middle of the Reserve Bank of Australia’s target band. [Read more…]


Treasurer Wayne Swan Comments On Inflation Figures

The Treasurer, Wayne Swan, has held his first press conference for the year, discussing a range of issues, including the inflation figures published today.

Swan also took questions on the report from the International Monetary Fund, the proposed emissions trading scheme, the Henry Tax Review, and mortgage interest rates. [Read more…]


Inflation Hits 13-Year High

Inflation has hit a 13-year high of 5.0% with a 1.2% rise in the September quarter Consumer Price Index. [Read more…]