CANBERRA, ACT, Oct. 29 -- The Treasurer of Australia issued the following media release:
New figures from the ABS show that underlying inflation was at the top of the target band in the September quarter.
This means underlying inflation has now been between two and threepercent for three consecutive quarters.
While headline inflation increased last quarter, this was largely as a result of the end of state energy rebates, and it remains much lower than its peak.
Inflation has ticked up today, but it's much lower than what we inherited, and that reflects the substantial progress we've made together in our economy.
When we came to office, inflation was high and rising rapidly - now it's much lower.
Underlying inflation was almost fiveper...