Inflation fight ‘actually going backwards’ despite the Treasurer’s ‘spin’

Former Treasury assistant secretary David Pearl claims the fight against inflation is going backwards following the release of the latest figures. According to data released by the Australian Bureau of Statistics, the monthly inflation figure for October has remained at a steady 2.1 per cent. However, the RBA’s preferred measure of inflation it closely watches rose to 3.5 per cent last month. “Fight against inflation is actually going backwards, and any spin you’re hearing from the Treasurer or anybody else that the inflation challenge has been met is false,” Mr Pearl told Sky News host Peta Credlin.