Treasurer Jim Chalmers has been accused of being “out of touch” in Question Time after he claimed a victory on inflation despite food costs rising by more than 20 per cent since Labor came to power. Watch live on SkyNews.com.au.
Inflation data released today shows consumer prices rose at an annual rate of 2.1 per cent in the June quarter, down from 2.4 per cent in March as markets now anticipate a near-certain rate cut in August.