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Reserve Bank Governor Michele Bullock says economic indicators suggest that inflation is likely to stay elevated for longer than the base case scenario forecast by the central bank.
The August statement by the RBA had pinpointed late 2027 as the time when inflation is expected to fall to the midpoint of the target range of between two and three per cent.
Ms Bullock has told Senate Estimates, that there are underlying pressures that are likely to keep inflation higher for longer.
"That is when we exclude some of the large volatile price movements such as fuel. We see inflationary pressures in areas that reflect that domestic demand for goods and services; and continued weak productivity growth means the economy cannot grow strongly without putting pressure on inflation. This is a fundamental challenge for the Australian economy and for everyone's real spending power over the next few years."
In a statement, Rachael McCririck from the Australian Bureau of Statistics, says housing was the largest contributor to annual inflation, followed by transport
The Government blames rising inflation on higher fuel prices driven by the conflict in the Middle East.
Treasurer Jim Chalmers says the war in the Middle East has been disastrous for Australians, for cost of living, and for inflation right around the world.
He accepts that inflation is likely to remain high for some time:
"Expectation is that we'll see inflation back in the band, uh, towards the end of next calendar year. Uh, but obviously, uh, the Treasury and the Reserve Bank, uh, for that matter, will update their forecasts in the usual way. There'll be a, a set of inflation forecasts in the mid-year budget update."
The first exit polls have been released following Israel's general election - but it's unclear who might end up forming a government.
While Benjamin Netanyahu's group appears to have 50 seats, his main rival, the Eisenkot bloc, is projected to win 52.
Ian Parmeter from the Australian National University's Centre for Arab and Islamic Studies says neither has enough seats for a majority government at this stage.
He told SBS News that while Mr Netanyahu appears to be trailing, he should never be written off.
"He's a remarkably successful politician and very good at at making the Israeli electoral system work for him. But the big problem is that neither side has got has any clear path to getting over the magic number of 60."
Hundreds of Qantas freight handling and QantasLink ground services workers have staged a 24 hour strike.
The strike is affecting Sydney, Melbourne, Adelaide, Brisbane and Perth airports, but Qantas says it has a contingency plan in place.
The Transport Workers Union says the airline has continued to drive down pay and conditions.
A Qantas spokesman says the airline is committed to reaching agreements with its employees that deliver substantial pay increases.
A third of the nations GPs say they've witnessed racism towards patients in Australia's healthcare system.
Those are the findings of the latest national survey from the Royal Australian College of General Practitioners.
The group is calling on the Federal Government to do more to tackle discrimination, with RACGP President Dr Michael Wright telling NITV he is concerned about the impacts of onging racism on Indigenous patients.
He says racism must always be addressed.
"As GPs, we see everyone around the country from really diverse backgrounds. Psychosocial safety and calling out inappropriate racism, discrimination is a problem across the whole health system, and we need to feel comfortable to call it out."
The Greek Australian community has welcomed the elite ceremonial unit of the Hellenic Presidential Guard from Greece which is currently in Australia.
The guards, whose duty is to protect the Tomb of the Unknown Soldier in Athens, visited Canberra's Parliament House today, to mark 'Ohi Day'.
This day is celebrated annually on October 28 in Greece, Cyprus, and by the Greek diaspora globally, to commemorate Greece's refusal to surrender in 1940.
The touring group of guards in full traditional costume featuring pom pom shoes, stockings and a skirt with 400 symbolic pleats, are visiting Canberra and Sydney for community and commemorative events.
The sound of their march is iconic, as the pom pom shoes have studded soles, creating arhythmic, sound during synchronized marches.
Canberra landmarks will be lit in the colour blue this evening.
Cricket Australia has revealed that the tests from last summer which only lasted two days each have ended up costing the organisation a total of 20-million dollars.
Although the sport has recorded a surplus for this year of 82 million dollars, it's expecting a deficit over the next two seasons, because India and England are not playing any test matches in Australia.
Cricket Australia CEO Todd Greenberg told Radio 4BC that a loss of 20-million dollars was a big hit, even though the last season's figures ended up being quite healthy.
"Give or take about 20-million. You know, that was a challenge for us last year because, you know, the board set us a budget of which we've just beaten this year, and that's a pretty solid outcome given the fact that we had two two-day test matches."
