We know Albo is an inveterate economic liar. He can barely open his mouth without referring to some fantasy economy in his head.
Today he gives inflation the Albo makeover:
Prime Minister Anthony Albanese says it’s not correct that headline monthly inflation has temporarily dropped to a three-year low of 2.7 per cent in August from 3.5 per cent in July due to temporary energy rebates.
When asked about the issue on Nine’s Today program, Albanese said, “That’s not right”.
“Every single one of the inflation figures, whether it be excluding volatile, is down from 3.7 [per cent] to 3 [per cent] … Every one of the figures that were released yesterday is heading in the right direction,” Albanese said.
Riiiight.
Here is every single one of the inflation figures from yesterday:
True, every category is down year on year. But half of the categories are above 3%. One-third are above 3.7%. Trimmed mean is 3.4%.
Also, the energy rebates did all the heavy lifting for core inflation, down 15% or about 0.7% from the total, which happens to the spread between headline and trimmed mean.
The real ray of light is that the trimmed mean is 0.1% below the RBA’s August SoMP outlook.
Sometimes I can’t tell if Albo is drunk and slurringly makes shit up to suit himself or if he is a deliberate liar.
