Australia's inflation rate has eased to 4%, below forecasts, prompting Treasurer Jim Chalmers to welcome the 'better than expected' figures. The decline offers some relief for households and the Labor government amid ongoing cost-of-living pressures.
In a separate development, the government has ordered a review into the 'ethical soundness' of consultancy firm KPMG. The move follows ongoing scrutiny of the consulting sector's role in government contracting and decision-making.
The 4% inflation figure, down from previous highs, suggests the Reserve Bank's tightening cycle may be gaining traction. However, core inflation remains sticky, and the central bank has signaled it remains vigilant against persistent price pressures.
Shadow health and aged care minister Anne Ruston has also introduced a private member's bill targeting the government's controversial integrated assessment tool for aged care. The bill would restore human assessor discretion and mandate algorithmic transparency, while offering reassessments to those affected by the current system.
Critics argue the government's review of KPMG may lack teeth without statutory backing, and that the inflation data could be revised. The broader economic picture remains uncertain as global headwinds persist.