“Today’s inflation data confirms the Taxaholic Treasurer’s active inflation agenda is keeping upward pressure on inflation, daring the Reserve Bank to hike interest rates for the 17th time under the Albanese government and forcing up prices for families and small business”, said Shadow Treasurer, Tim Wilson.
Mr Wilson’s comments come in the wake of the latest Consumer Price Index data from the ABS. It shows headline inflation at 4.3 per cent in the 12 months to September, while underlying inflation rose 1.0 per cent over the September quarter, above the Reserve Bank’s forecast of 0.8 per cent. Annual underlying inflation is 3.6 per cent, the 14thconsecutive month above the RBA’s target band.
“By continuing to spend beyond their means the Albanese government has consistently played a game of interest rate ‘chicken’ with the Reserve Bank, and this data says they’ll be forced to hike again”, Mr Wilson said.
“With a Treasurer that can’t kick his spending addiction, families are being forced to pay higher mortgage rates and go to the supermarket, pay more and get less”.
“Australian families are now desperate and are sitting around the kitchen tables trying to figure out what more they can cut, while the Prime Minister and the Treasurer tell them they’ve never had it so good”.
“For the Treasurer’s delusions to hold true that international factors are responsible for Australia’s underlying inflation problem the first bombs of this war would have to have dropped on Tehran in July 2025, not February 2026, or he could just admit it’s caused by his spending addiction”.
“The RBA meets on Melbourne Cup day, and for families with a mortgage the race that stops the nation could become the rate rise that stops the family budget, or the race that stops a small business”.
“The Coalition has a plan to get inflation down. We will put a speed limit on spending, crack down on the waste, fraud and abuse of public money, and deliver our Tax Back Guarantee so every Australian worker gets a bigger, permanent tax cut, every year”.
“The Treasurer should use MYEFO to rein in spending. If he does, inflation comes down, the pressure comes off rates, and families and small businesses get the breathing room to get ahead again”.
| Annual Inflation | Headline SEP-26 | CoreSEP-26 |
| Japan | 2.1% | 2.1% |
| France | 3.1% | 1.5% |
| Canada | 3.1% | 2.2% |
| Germany | 3.3% | 2.4% |
| UK | 3.5% | 2.8% |
| US | 3.7% | 2.6% |
| Italy | 4.2% | 1.6% |
| Australia | 4.3% | 3.6% |
(Source: Trading Economics)
| Indicator | Monthly | Annual | Since the change of government |
| All Groups CPI | 0.8% | 4.3% | +18.3%* |
| Housing | 0.3% | 5.2% | +25.3%* |
| Rents | 0.2% | 3.6% | +25.2%* |
| Electricity | -0.8% | 12.8% | +35.9% |
| Gas & Household Fuels | -0.2% | 1.0% | +43.9% |
| Food & Non-Alcoholic Beverages | 0.0% | 3.2% | +18.9%* |
| Transport | 3.0% | 8.7% | +10.6%* |
| Automotive Fuel | 9.4% | 23.6% | +17.3% |
| Insurance | 0.1% | 5.4% | +44.2%* |
| Health | -0.3% | 3.7% | +19.7%* |
| Education | 0.0% | 4.7% | +22.9%* |
All figures in this table are original basis (ABS 6401.0). Since the change of government: unmarked rows are monthly, May 2022 to September 2026; * rows are quarterly, the June quarter 2022 to the September quarter 2026.
