CANBERRA, ACT, Sept. 30 -- The Treasurer of Australia issued the following transcript:
Jim Chalmers:
New data from the Australian Bureau of Statistics shows that annual headline inflation rose in August but underlying inflation remained stable.
Headline inflation was up 0.4percent in August compared to 1percent in July. In the year to August headline inflation was 4percent. This compares to 3.5percent in July.
Trimmed mean inflation was 0.2percent in August, which was down from 0.5percent in July. In annual terms it was steady at 3.6percent.
These numbers confirm that the overwhelming reason why inflation went up in August in headline terms was higher global oil prices.
In fact, all of the increase in annual headline inflation was fro...