Inflation down to is lowest level in two years, Coles says it welcomes an inquiry, amidst allegations supermarket giants are ripping off customers, Steve Smith confirmed as Australia's new Test match opening batsman
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TRANSCRIPT
- Inflation down to is lowest level in two years
- Coles says it welcomes an inquiry, amidst allegations supermarket giants are ripping off customers
- Steve Smith confirmed as Australia's new Test match opening batsman
The federal government says it's still considering extra cost of living relief in the federal budget- despite inflation dropping to its lowest level in two years.
The just-released figures for November have inflation at 4.3 per cent- down from 4.9 per cent in October.
It's the lowest inflation figure since January 2022.
The Australian Stock Exchange has rallied upon the release of the news, with hopes now rising that the Reserve Bank will refrain from raising interest rates next month.
Federal Treasurer Jim Chalmers says, although the news is good, the government is responding with a note of caution.
"This is a really welcome and encouraging ouctome, but we don't get carried away, because we know people are still under the pump. That's why we are rolling out this cost of living relief, which is helping. We saw that, again, in today's figures. That's why we are prepared to consider, in the May budget, any additional help that we can provide in the usual responsible and affordable way."
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Supermarket giant Coles says it is willing to work with the government on a review into the food and grocery code of conduct.
Major supermarkets- Coles and Woolworths in particular- stand accused of price-gouging customers.
The federal government has appointed former minister Craig Emerson to head the review.
Amongst issues it will examine is whether the supermarket industry code- current voluntary- should be made compulsory.
Whilst federal Agriculture Minister says companies like Coles need to be more open about their pricing arrangements, amidst growing concern about what farmers earn and supermarket prices, with Coles and Woolworths posting billion-dollar profits last year.
Coles spokeswoman Martine Alpins claims the company does want to keep prices as low as possible for consumers.
"This is something we have to do together as industry to work out how groceries can remain affordable, and become affordable, for Australians. So, we are willing to work with anyone we need to on this review."
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Queensland Police are playing down reports of a large increase in crime in the state.
More than 600,000 offences were recorded in the state last year- an increase of more than seven per cent.
Instances of assaults, sexual offences, robbery, arson, unlawful entry, and stolen vehicles all went up.
Only the far north of the state had a decline in assault numbers last year.
State Opposition Leader David Crisafulli says the figures shows crime is worsening in Queensland.
He's promising to re-write the Youth Justice Act if his side wins the state election later this year.
But, whilst conceding there are some areas where things have genuinely gotten worse, such as family violence, Deputy Police Commissioner Shane Chelepy says an analysis of the figures has to bear in mind Queensland's increasing population.
"If you're just purely looking at the number of reported offences in a raw data stat, you've got to look at the population base that was in Queensland at the time, too. We've seen the increase in population. We've seen different areas get an increase in population. So, I would argue that, while we see that generally, what we've seen this year, across the board, is only about a five per cent increase in crime."
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The federal government has condemned Russia for getting ballistic missiles from North Korea to use in the war in Ukraine.
Australia is one of fifty nations to sign a letter on the issue.
The letter expresses concern about the security implications of the missile sales around the world, including in the Indo-Pacific.
The missile sales violate multiple United Nations resolutions.
The letter also says the signatories are closely monitoring what Russia gives North Korea in return for the missiles.
It urges North Korea to respond to offers to return to diplomacy- what it says is the only path to enduring pace on the Korean peninsula.
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In cricket, Australian men's chairman of selectors George Bailey has confirmed Steve Smith will take over David Warner's spot as opening batsman in the Test match team.
Already established as an all-time great as middle-order batsman, Smith will begin the new chapter in his career in the series against the West Indies, which starts next Wednesday with the first Test match in Adelaide.
Bailey says the main reason Smith, who volunteered to change spots, has been picked to replace the retiring Warner is so Australia can get all-rounder Cameron Green back into the team.
"Working through some of the solutions to that, and how he could potentially slot in, and where that could be... Steve's obviously motivated and energised and keen to do it... there were plenty within the team who were pretty keen to go on record and say that they weren't keen to do it. So, it was refreshing that Steve had come forward and said he wanted it. And it was something that we'd been chatting about in he background as a selection panel."
