Budget won't add to CPI: rating agencies

Australia's AAA credit rating appears safe because Labor's budget is unlikely to add to inflation. (Lukas Coch/AAP PHOTOS) (AAP)

The Albanese government's first budget is unlikely to add to inflation pressures, two major credit ratings agencies say.

S&P Global Ratings has had a AAA rating on Australia since February 2003, and the outlook was revised back to stable after being cut to negative in June last year.