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The Guardian - AU
The Guardian - AU
National
Sarah Martin and Paul Karp

Albanese says cost of living concerns will be ‘front and centre’ of cabinet meeting

Inflation Jim Chalmers Labor Anthony Albanese Sally McManus FWC
Anthony Albanese
Regarding relief for low income earners amid inflation and rising energy prices, Anthony Albanese says Labor will ‘consider what can be done’ while being ‘economically responsible’. Photograph: Lukas Coch/AAP

The prime minister, Anthony Albanese, says a cabinet meeting on Thursday will consider how best to respond to the cost of living crisis facing Australians amid warnings inflation will significantly worsen this year.

The meeting of his new inner ministry comes after the Reserve Bank this week lifted the official cash rate by 50 basis points to try and get on top of rapidly growing inflation. All of the big four banks have passed on the rate hike to mortgage holders.

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