From the Treasurer: Underlying inflation in Australia has fallen to its lowest level in three years, with headline inflation now in the mid-twos and underlying inflation in the low threes, according to new figures from the Australian Bureau of Statistics.

The government attributes this progress in reducing inflation, which has dropped from 6.1% since taking office, to responsible economic management and targeted cost-of-living policies.

Key indicators show that inflation rates for trimmed mean and non-tradable goods have also improved, signaling a more favorable economic outlook while maintaining job growth and low unemployment.