Joe Hockey blames carbon tax for unexpectedly high inflation figure

http://www.theguardian.com/business/2013/oct/23/hockey-blames-carbon-tax-inflation

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The treasurer, Joe Hockey, says the latest inflation data is above expectations, making special note of the big hike in electricity and petrol prices.

The consumer price index, the key measure of inflation, rose 1.2% in the September quarter for an annual rate of 2.2%, the Australian Bureau of Statistics said on Wednesday.

Hockey blamed Labor's carbon tax, introduced in July 2012, for prices being higher "than they should be".

The treasurer implored Labor to provide cost-of-living relief by supporting the Coalition's plan to repeal the carbon tax when parliament sits in November.

"I cannot understand why the Labor party would stand in the way of a tax cut for everyday Australians," the treasurer told reporters in Canberra.

The government believes the repeal of the carbon tax will result in a reduction in the cost of electricity, which increased 4.4% in the September quarter.

Since the tax was introduced the electricity price had risen 22%, Hockey said, adding that it had doubled since Labor came to government in 2007.

There also was a significant increase (7.6%) in the price of petrol.

Abolishing the carbon tax would save households $550 a year on average, Hockey said.

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