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Inflation jump paves the way for more interest rate pain · The Front

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  Speaker 1: Today's Biggest News from The Australian. I'm Christinamiot with the
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  Speaker 1: Front's afternoon headlines. Inflation has jumped to its highest point
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  Speaker 1: since twenty twenty three, and with a meeting of the
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  Speaker 1: Reserve Bank just around the corner, the pressure is on
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  Speaker 1: to lift interest rates again. In figures released on Wednesday,
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  Speaker 1: the consumer price index rows to four point six percent
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  Speaker 1: in the year to March, up from three point seven percent.
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  Speaker 1: That's the first full reading since the start of the
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  Speaker 1: Iran War. A surge in fuel prices saw headline inflation
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  Speaker 1: rise by one point one percent. That's how the price
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  Speaker 1: of goods and services are measured, but it's underlying inflation
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  Speaker 1: that the RBA keeps the closest eye on. The Reserve
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  Speaker 1: Bank likes underlying inflation to sit between two and three percent,
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  Speaker 1: but it's up to three point three percent in the
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  Speaker 1: year to March. Experts say that means another rate rise
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  Speaker 1: could be on the way when the RBA Board meets
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  Speaker 1: next week. Treasurer Jim Chalmers, who'll hand it to a
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  Speaker 1: new federal budget on May twelve, said the Middle East
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  Speaker 1: conflict is to blame for surging inflation and warned things
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  Speaker 1: are likely to get worse before they get better, but
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  Speaker 1: Chalmers claimed the government's cuts to the fuel excise was
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  Speaker 1: the right move.
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  Speaker 2: It's also worth remembering that these figures today are from
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  Speaker 2: before the government's temporary cut to the fuel excise took effect,
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  Speaker 2: but it shows just how important and how necessary that
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  Speaker 2: decision from the government was. Since we've had the fuel excise,
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  Speaker 2: so after this period that we're talking about now, in
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  Speaker 2: the inflation data, we've seen petrol and diesel prices fall
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  Speaker 2: by at least seventy cents in most capital cities, and
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  Speaker 2: this shows how important that fuel excise relief is.
• 1:48
  Speaker 1: A Californian judge suggested Meta, the owner of Facebook, was
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  Speaker 1: grossly negligent when it allegedly destroyed evidence related to a
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  Speaker 1: lawsuit brought by Australian billionaire Andrew Twiggy Forest, The Ford
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  Speaker 1: Skew mining magnate, is suing Meta in San Jose after
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  Speaker 1: thousands of Australians were allegedly scammed out of their life
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  Speaker 1: savings through fraudulent ads bearing Forest's likeness. Meta has argued
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  Speaker 1: that under American law it's not responsible for what's posted
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  Speaker 1: on its platform, but conceded it deleted data relating to
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  Speaker 1: the ads, which were distributed to Australian Facebook users more
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  Speaker 1: than seventy million times. Judge Patrick Casey Pitts said quote,
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  Speaker 1: maybe there was wilful ignorance about the issue, because if
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  Speaker 1: you were to figure it out, you would start preserving
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  Speaker 1: it and suddenly people would have access to it. He's
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  Speaker 1: weighing whether to impose sanctions on Meta over the destruction
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  Speaker 1: of evidence, and will hand down his decision soon. Donald
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  Speaker 1: Trump hosted King Charles and Queen Camilla at a state
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  Speaker 1: dinner at the White House, just days after a man
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  Speaker 1: armed with knives and guns targeted the US President and
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  Speaker 1: members of his administration at a black tie dinner in Washington, DCT.
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  Speaker 1: It follows an historic address by King Charles to a
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  Speaker 1: joint session of Congress on the second day of his
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  Speaker 1: state visit to the United States. Check out those stories
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  Speaker 1: live right now at the Australian dot com dot au
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  Speaker 1: and come back to the front first thing in the
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  Speaker 1: morning for a close look at the King's attempts to
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  Speaker 1: patch up the UK's special relationship with America. That's right
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  Speaker 1: here Thursday morning,