Australian news and politics: Chalmers says inflation figures ‘encouraging’ but still too high
RECAP: Treasurer Jim Chalmers has described the lowest inflation reading since before the Iran war as encouraging but conceded it’s still too high.
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Key events
27 May 2026 - 02:32 PM
Clearest indication yet fuel excise cut won’t continue
27 May 2026 - 01:01 PM
Burke confirms no arrests of ISIS brides on Tuesday
27 May 2026 - 12:40 PM
Capital gains carve-outs the focus of Question Time
27 May 2026 - 12:38 PM
ABC news boss Justin Stevens resigns after four years
27 May 2026 - 11:57 AM
Labor MP’s primary residence ‘vacant block of land’
27 May 2026 - 11:20 AM
Top cop exposes intelligence sharing flaw after Bondi
27 May 2026 - 10:57 AM
Extension to fuel excise cut ‘not anticipated’: Chalmers
27 May 2026 - 10:23 AM
Inflation figures ‘encouraging’: Chalmers
27 May 2026 - 09:41 AM
‘All stick and no carrot’: Business wants CGT changes limited to housing
27 May 2026 - 09:37 AM
Inflation drops after fuel excise halved
27 May 2026 - 08:21 AM
Hume insists Labor should hold off major tax reform
27 May 2026 - 08:07 AM
Coalition digs in as NDIS becomes tax reform battleground
27 May 2026 - 07:56 AM
Coalition threatens to hold back support for Labor’s proposed NDIS cost cutting
27 May 2026 - 07:20 AM
O’Neil: Tax changes to have ‘modest’ impact on house prices
27 May 2026 - 06:29 AM
‘Not done’: O’Neil hints at more tax reform
27 May 2026 - 06:16 AM
Iran fury over US ceasefire ‘violation’
27 May 2026 - 06:07 AM
Wong deepens Quad ties with major new security deal
Iran fury over US ceasefire ‘violation’
Iran said the United States has violated a ceasefire after the US conducted what it called defensive strikes in southern Iran, while US Secretary of State Marco Rubio said negotiating a deal to halt the conflict could “take a few days”.
Iran’s foreign ministry said US strikes in Iran’s southern Hormozgan province, where Iranian media reported sounds of explosions early on Tuesday, represented a “gross violation” of a tenuous ceasefire in place for nearly seven weeks.
Both sides had previously indicated progress on a memorandum of understanding that could halt the war and restart shipping through the blockaded Strait of Hormuz, while giving negotiators 60 days to tackle more complex issues, including Iran’s nuclear program.
Iranian media reported that the country’s negotiators had been pushing for the memorandum to include the release of billions of dollars of frozen assets at talks in Qatar.
Following strikes against targets that the US said included boats attempting to lay mines and missile launch sites, Mr Rubio told reporters on his plane in India’s Jaipur that the Strait of Hormuz had to be open “one way or the other”.
Wong deepens Quad ties with major new security deal
Australia has unveiled a new Quad maritime surveillance partnership with the US, India and Japan, alongside a $20 billion critical minerals push aimed at strengthening regional security and protecting supply chains amid mounting global instability.
The Indo-Pacific Maritime Surveillance Collaboration will combine the four nations’ monitoring capabilities across the Indian Ocean and provide improved real-time information to commercial shipping.
A separate critical minerals agreement spanning mining, processing and recycling was also announced. China pushed back on the move, with Foreign Ministry spokeswoman Mao Ning saying: “We do not support forming exclusive small groupings or bloc confrontation”.
“Any cooperation should not undermine mutual trust and cooperation among regional countries.”
Speaking in New Delhi, Foreign Minister Penny Wong said Indo-Pacific nations must “have the capacity to know who is in (the region), what illegal fishing is occurring, what is occurring in their maritime zones, and supporting their capacity to respond”.
Senator Wong also confirmed US Secretary of State Marco Rubio had briefed Quad ministers on Iran talks, adding: “I think all the countries around the table are hoping that there is an outcome which returns stability, which returns peace and which enables freedom of navigation through the Strait of Hormuz and supply to flow.”
