Jim Chalmers welcomes ‘encouraging’ news as inflation holds steady

Treasurer Jim Chalmers welcomed the CPI figures released today which show inflation staying steady in February. The latest monthly CPI indicator from the ABS reveals inflation rose 3.4 per cent in the 12 months to February this year. This means inflation remains unchanged from January and is below forecasts of 3.5 per cent. “Monthly inflation is now almost half of what we inherited when we came to office,” Mr Chalmers said during Question Time. “The direction of travel when it comes to inflation is welcome, it’s encouraging, and it’s clear. “We do acknowledge we've also got a slowing economy; we’ve also got global uncertainty, and people are still under pressure. “We will find the best balance of relief, repair and reform.”