THE HON. KEVIN HOGAN MP
FEDERAL MEMBER FOR PAGE
SHADOW ASSISTANT TREASURER
SHADOW MINISTER FOR FINANCIAL SERVICES
DEPUTY MANAGER OF OPPOSITION BUSINESS
WHY IS INFLATION HIGHER IN AUSTRALIA?
It’s the question Jim Chalmers can’t spin his way out of.
Australian households are facing higher mortgage repayments – with no relief in sight – as the Reserve Bank lifts interest rates to fight off inflation.
If we look at core inflation, which removes volatile things like fuel, Australia has the highest of any major advanced economy at 3.6 per cent in September. Higher than Canada (2.2 per cent), Germany (2.4 per cent), the European Union (2.5 per cent), the United States (2.6 per cent), and the United Kingdom (2.8 per cent).
If you listen to Jim Chalmers, our high inflation is all because of the war in the Middle East, oil prices, and data centres. But Australia isn’t the only country facing those global pressures – so why is our inflation so much worse than comparable economies?
The difference is that our economy is resting on the shoulders of Jim Chalmers, who is out of his depth and doesn’t understand the economic reality Australians are facing.
The Treasurer’s whole career has been about media spin rather than substance. From his days as media adviser to Wayne Swan to his press conferences today.
But in economics, the data is what matters – and the data is saying we have a home-grown problem. The RBA can see it, his backbenchers can see it, and the Australian people see it. It’s a problem that no amount of spin can make go away.
Every Australian should hope the Treasurer starts taking this problem seriously. We need him to succeed in the fight against inflation.
Because if he keeps failing, it will be Australians that keep paying the price.
[ENDS]
4 November 2026
Media Contact – Chadd Gunton – 0418 104 993