WEBVTT - Pressure On Interest Rates Dissipates As Inflation Eases

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<v Speaker 1>Hello, and welcome to the update. I'm Michelle Stevenson. Well

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<v Speaker 1>The Treasurer has welcomed a below expected inflation rate, but

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<v Speaker 1>admits there is still work to do to ease cost

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<v Speaker 1>of living pressures. According to the ABS, underlying inflation remained

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<v Speaker 1>pretty flat at three point six percent, reducing the chance

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<v Speaker 1>of an interest rate rise. At the RBA's August meeting,

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<v Speaker 1>Jim Chalmers says he won't get carried away with one

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<v Speaker 1>set of data.

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<v Speaker 2>Though people are still under pressure. We know that inflation

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<v Speaker 2>is still higher than we would like it to be.

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<v Speaker 2>We know that the war in the Middle East and

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<v Speaker 2>the uncertain developments even in the last couple of weeks

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<v Speaker 2>risks that outlook as well. But in the circumstances that

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<v Speaker 2>we find ourselves in, these numbers today are encouraging.

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<v Speaker 1>The opposition argues Australia's inflation is still too high despite

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<v Speaker 1>lower than expected CPI data. Shadow treasure At Tim Wilson

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<v Speaker 1>says we shouldn't really be focusing on that headline figure.

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<v Speaker 3>The challenge for Australia and our inflation problem now is

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<v Speaker 3>if you remove the Iran conflict, inflation would persist because

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<v Speaker 3>government spending is driving Australia's inflation problem.

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<v Speaker 1>One nation is under pressure to lodge three years of

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<v Speaker 1>financial documents or the Office of Fair Trading will launch

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<v Speaker 1>an investigation. The minor party has until August eighteen to

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<v Speaker 1>submit its audit at financial statements. It's already handed over

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<v Speaker 1>three years of missing annual returns. Well, the nation's Chief

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<v Speaker 1>vet has confirmed Australia's first cases of local transmission of

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<v Speaker 1>bird flu. Eleven news suspected cases have been identified across

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<v Speaker 1>a coastal South Australia and Kangaroo Island. Today they've been

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<v Speaker 1>center for CSIRO testing. Chief Vettery Officer Beth Cookson says

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<v Speaker 1>it is likely we'll see more cases and deaths among

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<v Speaker 1>local wildlife.

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<v Speaker 4>This news of some local transmission may mean we start

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<v Speaker 4>to see wider spread among wild birds and other susceptible wildlife.

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<v Speaker 4>We do know from the overseas experience that once the

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<v Speaker 4>virus becomes more white spread in wild bird populations, it

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<v Speaker 4>will not be possible to avoid losses in susceptible wildlife

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<v Speaker 4>in the natural environment.

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<v Speaker 1>Well experts say extreme weather overseas could spell danger for

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<v Speaker 1>our upcoming bush fire season. Wild Fires are burning across

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<v Speaker 1>Europe and North America, forcing the evacuation of hundreds of

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<v Speaker 1>thousands of people. An El Nino weather system in the

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<v Speaker 1>Pacific could bring warm attempts and reduce rainfall for much

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<v Speaker 1>of Australia. And Quanas has made aviation history after completing

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<v Speaker 1>what is believed to be the longest NonStop flight on record.

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<v Speaker 1>The test flight landed in France after flying for all

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<v Speaker 1>the twenty four hours from Melbourne. As part of preparations

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<v Speaker 1>for direct to Sydney to London routes sick Rounds for

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<v Speaker 1>Entertainment to next just Born and Chrius Hewett will potentially

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<v Speaker 1>face top ranked Ozzie Alex Demonor in round two of

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<v Speaker 1>the Washington Open, the seventeen year old son of Leyton

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<v Speaker 1>winning his first match on the ATP to rocketing two

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<v Speaker 1>hundred and fifty places up at the world rankings and

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<v Speaker 1>Australia's wonder record equally twenty eighth gold medal in the pool,

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<v Speaker 1>taking out the mixed four by one hundred meter metal relay.

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<v Speaker 1>In Your Entertainment News Now in Kim Kardashian was spotted

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<v Speaker 1>dressed all in white looking pretty somber at her late

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<v Speaker 1>grandmother's celebration of life. The ralthy star, joining the rest

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<v Speaker 1>of her Morning a family to honor the ninety one

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<v Speaker 1>year old, the Prince and Princess of Wales have shared

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<v Speaker 1>a snapshot of their summer holidays. He is to post

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<v Speaker 1>featuring a candid pick of William and Kate with their

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<v Speaker 1>three children. And while there is a tight race for

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<v Speaker 1>the number one spot on the Billboard Charts this week,

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<v Speaker 1>Olivia Rodrigo, Morgan Wallan, Ala Langley and Charlie XX are

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<v Speaker 1>battling it out for pole position, with just six thousand

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<v Speaker 1>units separating them. That's the latest from the Never Podcast.

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<v Speaker 1>News Tim, I'll have another episode of the Update for

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<v Speaker 1>you tomorrow. I'm Michelle Stevenson.