Treasurer Jim Chalmers has welcomed the latest CPI figures on Wednesday. Inflation dropped to 3.5 per cent in the year to July, down from 3.8 per cent in June. “I think this is a welcome, encouraging result in this monthly inflation data headline underlying, non-tradable, some really welcome developments,” Mr Chalmers said. “But we understand that people are still under pressure and that's why our cost of living ... is so important, whether it be the tax cuts, the energy bill relief, cheaper early childhood education, cheaper medicines, rent assistance, getting wages moving again.”

The nation's inflation rate fell to 3.5 per cent in the year to July, the Australian Bureau of Statistics revealed on Wednesday. Inflation dropped to 3.5 per cent in the year to July, down from 3.8 per cent in June.

Sky News host Rita Panahi says Democratic vice presidential nominee Tim Walz has again been accused of lying following a resurfaced letter from 2006. “Walz has already stretched the truth – and that’s putting it kindly – on his military service, his wife’s fertility journey, is now being accused of claiming awards he never received,” she said. “A 2006 letter from the Nebraska Chamber of Commerce has resurfaced, reprimanding the then-congressional hopeful Walz for claiming on his website that he had received an award from them in 1993 for his work with the business community. “This guy is a bit of a disaster.”

South Australian Premier Peter Malinauskas says there is an “increasing number” of people choosing to move from Adelaide to regional South Australia. Mr Malinauskas said it is a “noteworthy development”. “Because Adelaide traditionally – particularly post WW2 – has absorbed population growth with ease,” he said at the Bush Summit in McLaren Vale on Wednesday.

After much speculation, 1990's rock band Oasis announced that it would reunite after 15 years and will tour in 2025. The long feuding Gallagher brothers, Noel and Liam, are getting the band back together, releasing a video confirming the reunion rumours and revealing dates for concerts in the UK and Ireland next year. The band said plans are underway for 'OASIS LIVE '25' to go to other continents outside Europe later next year. TEG's Global Head of Touring Tim McGregor joined Sky News Australia to discuss the massive news. “It's massive when an act of this calibre decides to get back into touring gear. It's extremely exciting, and to put this into perspective in the UK I mean this is bigger than Taylor Swift across there,” Mr McGregor said.

Universities Australia Chair Professor David Lloyd says the government’s international student cap is a “concern”. The Albanese government has announced that international student enrolments will be capped at 270,000 from next year. Professor Lloyd told Sky News Australia that it is a proposal to fix a “problem that they created”.

Prime Minister Anthony Albanese has arrived in Tonga for the Pacific Island Forum. Mr Albanese is joined by the Minister for International Development and the Pacific Pat Conroy. The climate crisis, Pacific policies and geopolitics is expected to be the focus of the forum.

CommSec’s Tom Piotrowski says the Northern Hemisphere stock markets were “range bound” last night. “We saw gains of around 0.2 of a per cent for the S&P 500 and the Nasdaq. The Dow was flat,” he told Sky News Australia. Presented by CommSec.

Former prime minister Scott Morrison has labelled the verbal attacks against Opposition Leader Peter Dutton as “politically lazy”. In an exclusive interview with Sky News host Sharri Markson, Mr Morrison said such attacks are usually an admission of not being able to hold an argument on the policy issue. This comes after Treasurer Jim Chalmers branded Mr Dutton as “dangerous” during a speech at the John Curtin Research Centre in Melbourne.

A volcano in Iceland has released a toxic cloud of gas which will pass over parts of Europe. Plumes of sulphur dioxide were sent into the atmosphere by a volcano near the town of Grindavik. The latest eruption is the sixth since December and spewed lava and created strong earthquakes.

NFL stars Travis and Jason Kelce are signing a podcast deal worth more than $147 million. The deal will give Amazon’s Wondery exclusive ad sales and distribution rights to the brothers’ ‘New Heights’ podcast. It is timed to coincide with the start of the new NFL season, which begins next week.

Sky News host Liz Storer says a school student in the United States has been prevented from flying the American flag by his teachers. “In America where a kid … has rocked up to school sporting an American flag,” Ms Storer said. “Because he was disciplined for it they said no, you can’t fly the flag here, why the heck not? He decided … I am flying my country’s flag.”

Sky News host James Macpherson discusses the leaking of the University of Queensland Union budget. “Universities are crying poor over the government decision to cap international student numbers,” Mr Macpherson said. “You wouldn’t know universities are short of a dollar judging by the University of Queensland Union budget. “Students were left outraged after the budget was leaked online that a portion of their fees had been paying for exclusive parties, for lamas to walk around on campus.”

Sky News host James Macpherson says the British have got the answer to “social cohesion” and it is to “get rid of whiteness”. “Thank God the British have got the answer to social cohesion … all we have got to do is get rid of ‘whiteness’,” Mr Macpherson said. “Then everything will just be honky dory, can you believe this?”

Sky News host Caleb Bond says the ABC “allowed something a little bit naughty” to go to air on Monday night. “You wouldn’t have been watching it – QandA that is – I’m assuming you gave up watching QandA years ago like I did,” Mr Bond said. “But they allowed a woman, by the name of Jenny Carrol, to go on QandA last night and question whether or not multiculturalism is a good thing.”

Sky News host Caleb Bond criticises the University of Queensland for giving their union $165,000 for a toga party, which was cancelled due to wet weather. “$165,000 for a toga party … for $165,000, what sort of party are you getting,” Mr Bond said. “I mean, I have been to some ripper parties with a shedload of grog, and I don’t think they cost nearly $165,000.”

Former prime minister Scott Morrison discusses calls from the Opposition Leader not to allow the issuing of visas to Palestinians fleeing Gaza. "In terms of letting many others come particularly on visitor visas in most circumstances, particularly from a place that you'd have to consider high risk," Mr Morrison told Sky News host Sharri Markson. "If Hamas were to have elections tomorrow, they would probably get 90 per cent of the vote. "The idea that any sympathy with Hamas rhetorical or otherwise somehow could be overlooked and you can get a leave pass to live long term in Australia."

The Albanese Labor government does not have its own original thoughts, says former speaker of the house Bronwyn Bishop. Her remarks come as the Right to Disconnect laws took effect on Monday, August 26. “It’s an idea that came out of the European Union,” she told Sky News host Sharri Markson. “This government hasn’t got an original thought in its head – it picks it up from somebody else.”

Environment Minister Tanya Plibersek should be “literally made to recant” her decision to veto a $1 billion gold mine in regional New South Wales, says former speaker of the house Bronwyn Bishop. “The whole thing is absolute nonsense and an insult to the average Australian’s intellect,” she told Sky News host Sharri Markson. “Plibersek has to be held up to account – she’s trying to save her own seat from an incursion from the Greens and say ‘look at me, I stopped a mine, whoop dee doo’.”

'Ovaries. Talk About Them' is a campaign led by Australian designers Camilla Freeman-Topper and Marc Freeman, the duo behind the fashion label Camilla & Marc. The emotional campaign aims to shed light on the amazing feat of the UNSW Gynecological Cancer Research Group, which has recently reached a major milestone in its goal to develop an early detection test for ovarian cancer. Marc Freeman joined to discuss this with Sky News host Sharri Markson.