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Speaker 1: From The Daily Os. I'm Zara Seidler, I'm Emily Donahue.

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Speaker 1: It's Wednesday, the seventh of January. Here's what's making headlines

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Speaker 1: this evening.

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Speaker 2: Emergency level bushfires have ignited and residents are being urged

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Speaker 2: to leave amid some of the worst heat wave conditions

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Speaker 2: in years. The conditions may be the worst since the

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Speaker 2: twenty nineteen twenty twenty summer bush fires that killed more

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Speaker 2: than thirty people and burned through millions of hectares of land.

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Speaker 2: At the time of recording, an emergency level fire is

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Speaker 2: burning out of control on the New South Wales Victoria

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Speaker 2: border at bunjal Grana and the lug Along east of

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Speaker 2: aubury Wodonga. Residents are being told to leave immediately before

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Speaker 2: conditions become too dangerous.

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Speaker 1: The annual inflation rate decreased to three point four percent

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Speaker 1: in November, according to the Australian Bureau of Statistics, with

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Speaker 1: that figure coming down from three point eight percent previously.

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Speaker 1: The trimmed mean fell from three point three percent three

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Speaker 1: point two percent, though it still remains outside the Reserve

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Speaker 1: banks two to three percent target range. This is often

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Speaker 1: seen as a more accurate figure to understand longer term

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Speaker 1: changes as it excludes volatile price changes, including things like petrol.

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Speaker 1: The next rate cut decision will be made by the

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Speaker 1: RBA on the third of February.

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Speaker 2: Venezuela and the US have reached a deal to export

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Speaker 2: up to two billion US dollars worth of Venezuelan oil

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Speaker 2: to the country. In a social media post on Tuesday,

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Speaker 2: President Donald Trump said Venezuela will be quote turning over

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Speaker 2: between thirty and fifty million barrels of sanctioned oil to

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Speaker 2: the US. Trump claimed the deal with divert supplies from

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Speaker 2: China while helping Venezuela avoid deeper oil production costs. Trump

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Speaker 2: has previously said he wants interim Venezuelan president Delci Rodriguez

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Speaker 2: to give the US and private companies quote total access

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Speaker 2: to Venezuela's oil industry.

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Speaker 1: And the good news. The park's Elvis Festival has kicked off,

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Speaker 1: with hundreds of Elvis fans gathering for the annual festival.

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Speaker 2: This year.

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Speaker 1: The theme of the festival is love Me Tender and

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Speaker 1: Don't worry I won't sing it for you will all.

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Speaker 1: But the festival does attract more than twenty five thousand

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Speaker 1: Elvis lovers each year with Park's man Neil Westercott saying

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Speaker 1: We're going to laugh at ourselves and each other and

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Speaker 1: do it to the most incredible background of Elvis music.

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Speaker 2: That's the latest from the Daily oz newsroom. If you're

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Speaker 2: looking for a little more news, you can catch up

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Speaker 2: on this morning's deep dive into the cause for a

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Speaker 2: Royal Commission into Anti Semitism.

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Speaker 1: We will of course be back with a lather deep

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Speaker 1: dives tomorrow morning, but until then, have a great evening.

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Speaker 1: My name is Lily Maddon and I'm a proud Arunda

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Speaker 1: Bungelung Cargoton woman from Gadigl Country. The Daily oz acknowledges

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Speaker 1: that this podcast is recorded on the lands of the

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Speaker 1: Gadighl people and pays respect to all Aboriginal and Torres

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Speaker 1: Strait Island and nations. We pay our respects to the

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Speaker 1: first peoples of these countries, both past and present.