WEBVTT - Headlines: Inflation's unexpected fall

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<v Speaker 1>From The Daily Os. I'm Zara Seidler, I'm Emily Donahue.

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

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<v Speaker 1>this evening.

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<v Speaker 2>Emergency level bushfires have ignited and residents are being urged

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<v Speaker 2>to leave amid some of the worst heat wave conditions

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<v Speaker 2>in years. The conditions may be the worst since the

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<v Speaker 2>twenty nineteen twenty twenty summer bush fires that killed more

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<v Speaker 2>than thirty people and burned through millions of hectares of land.

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<v Speaker 2>At the time of recording, an emergency level fire is

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<v Speaker 2>burning out of control on the New South Wales Victoria

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<v Speaker 2>border at bunjal Grana and the lug Along east of

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<v Speaker 2>aubury Wodonga. Residents are being told to leave immediately before

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<v Speaker 2>conditions become too dangerous.

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<v Speaker 1>The annual inflation rate decreased to three point four percent

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<v Speaker 1>in November, according to the Australian Bureau of Statistics, with

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<v Speaker 1>that figure coming down from three point eight percent previously.

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<v Speaker 1>The trimmed mean fell from three point three percent three

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<v Speaker 1>point two percent, though it still remains outside the Reserve

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<v Speaker 1>banks two to three percent target range. This is often

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<v Speaker 1>seen as a more accurate figure to understand longer term

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<v Speaker 1>changes as it excludes volatile price changes, including things like petrol.

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<v Speaker 1>The next rate cut decision will be made by the

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<v Speaker 1>RBA on the third of February.

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<v Speaker 2>Venezuela and the US have reached a deal to export

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<v Speaker 2>up to two billion US dollars worth of Venezuelan oil

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<v Speaker 2>to the country. In a social media post on Tuesday,

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<v Speaker 2>President Donald Trump said Venezuela will be quote turning over

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<v Speaker 2>between thirty and fifty million barrels of sanctioned oil to

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<v Speaker 2>the US. Trump claimed the deal with divert supplies from

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<v Speaker 2>China while helping Venezuela avoid deeper oil production costs. Trump

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<v Speaker 2>has previously said he wants interim Venezuelan president Delci Rodriguez

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<v Speaker 2>to give the US and private companies quote total access

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<v Speaker 2>to Venezuela's oil industry.

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

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<v Speaker 1>with hundreds of Elvis fans gathering for the annual festival.

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<v Speaker 2>This year.

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<v Speaker 1>The theme of the festival is love Me Tender and

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<v Speaker 1>Don't worry I won't sing it for you will all.

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<v Speaker 1>But the festival does attract more than twenty five thousand

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<v Speaker 1>Elvis lovers each year with Park's man Neil Westercott saying

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<v Speaker 1>We're going to laugh at ourselves and each other and

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<v Speaker 1>do it to the most incredible background of Elvis music.

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<v Speaker 2>That's the latest from the Daily oz newsroom. If you're

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<v Speaker 2>looking for a little more news, you can catch up

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<v Speaker 2>on this morning's deep dive into the cause for a

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<v Speaker 2>Royal Commission into Anti Semitism.

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<v Speaker 1>We will of course be back with a lather deep

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<v Speaker 1>dives tomorrow morning, but until then, have a great evening.

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<v Speaker 1>My name is Lily Maddon and I'm a proud Arunda

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<v Speaker 1>Bungelung Cargoton woman from Gadigl Country. The Daily oz acknowledges

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<v Speaker 1>that this podcast is recorded on the lands of the

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<v Speaker 1>Gadighl people and pays respect to all Aboriginal and Torres

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<v Speaker 1>Strait Island and nations. We pay our respects to the

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<v Speaker 1>first peoples of these countries, both past and present.