Good afternoon. In some good news, inflation has fallen to a two-year low, coming in at 4.1% for the December quarter – below market expectations of 4.3% – and fanning expectations of a future rate cut.
“What we’re seeing here is inflation is slowing, real wages [are] growing, and from the first of July we will see tax cuts flowing,” the treasurer, Jim Chalmers, said, welcoming the latest CPI figures.
Attention now turns to if and how soon the RBA will begin cutting interest rates if it becomes confident inflation will drop back within its 2-3% target range before the end of next year.
Top news
Lehrmann inquiry head held 55 calls with The Australian during probe, court told | Walter Sofronoff has been accused in a court hearing of an “apprehension of bias” against the former ACT director of public prosecutions, Shane Drumgold, by Drumgold’s lawyer, who alleged that phone records they would rely on in the case show Sofronoff spent seven-and-a-half hours on the phone to The Australian newspaper during the Bruce Lehrmann inquiry. Sofronoff, in an affidavit, said it was his job as inquiry chair to speak with journalists, and his communications were above board.
Turtle deaths surge in Moreton Bay | Turtle deaths in the key south-east Queensland habitat have increased 87% in a single year and there are concerns that uncontrolled boating, four-wheel driving and discarded crab pots could result in more fatalities.
How likely is another La Niña for Australia in 2024? | The Bureau of Meteorology in September joined other global weather agencies to declare an El Niño event to be under way in the Pacific. Then widespread, and in some cases flooding, rains arrived in December. Did BoM get it wrong? Not quite, and its modelling is still leaning towards El Niño-like weather conditions lasting until June this year. Check out this explainer.
Carmakers ‘grossly under-reporting’ emissions | New research has found the difference between carbon emissions declared by automakers and estimates from researchers averaged 27%. Both Ford and Stellantis, which produces cars under the brands Jeep, Alfa Romeo and Fiat, reported their emissions accurately, while the report found wide and “inexplicable” differences in emission estimates from Honda and Hyundai.
Iran on alert for US response | Iran has told the US via intermediaries that if it strikes Iranian soil directly, Tehran will itself hit back at American assets in the Middle East, drawing the two sides into a direct conflict. Meanwhile, a Guardian visual investigation shows the scale of destruction on Gaza’s neighbourhoods.
New Zealand to ban PFAS ‘forever chemicals’ in cosmetics in 2026 | The country may be the first to do so, amid increasing concerns about the health and environmental risks posed by the virtually indestructible chemicals.
Judge rules Elon Musk’s Tesla pay package too much | A Delaware judge has ruled in favour of investors who challenged billionaire Musk’s $56bn (A$85bn) pay package as excessive. The judge found the pay – six times larger than the combined pay of the 200 highest-paid executives in 2021 – was set inappropriately.
Taylor Swift AI images prompt US bill to tackle deepfakes | A bipartisan group of US senators have introduced a bill that would criminalise the spread of nonconsensual, sexualised images generated by artificial intelligence. The measure comes in direct response to the proliferation of pornographic AI-made images of Taylor Swift on X, formerly Twitter, in recent days.
In pictures
Dive into the surreal: strange views of Cuba
Human Landscapes brings together early and recent works by the Cuban photographer Raúl Cañibano. Showcasing images taken over three decades, this exhibition celebrates Cañibano’s profound love for his native country. Click here to see the gallery.
What they said …
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“I think we need to seriously consider that our laws are probably not keeping pace with emerging technologies like AI and the risks they pose not just to women in public life, but everyday women as well.” – Georgie Purcell, Animal Justice party MP
The MP, who called out the ‘sexist’ editing of her image by Nine News, spoke more about the broader implications of AI, particularly for women when it comes to deep fake images.
In numbers
Helping to peg inflation back were food and fuel, which steadied last quarter. Food prices rose 0.5% while fuel dropped 0.2%.
Before bed read
Are you ready for a crappy day out in Melbourne? Be sure to pop into the city’s new poo museum.
“Located across the road from where Melbourne’s first public toilet opened in 1859, Australia’s first Unko Museum is the latest in a series that has cropped up across Japan and Shanghai over the past five years (“unko” is one of the sweeter Japanese words for faeces, along the lines of “doo-doo”). With entry priced at $23.50 (or $18 per child if you’re dropping off the kids), it’s mostly a bunch of Instagrammable set pieces, plus a few crappy games (their words, not mine),” writes Toby Fehily. Read more.
Daily word game
Today’s starter word is: TIP. You have five goes to get the longest word including the starter word. Play Wordiply.
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