Australia unveils $9.9B in budget for cost of living relief

By Tuba Ongun

ANKARA (AA) - Australian government on Tuesday announced 14.6 billion Australian dollars ($9.9 billion) in the budget for the cost of living relief.

The plan, including help with power bills, lowering health costs, and creating more affordable housing, will help ease price pressure on households and businesses amid persistent inflation, Treasurer Jim Chalmers said.

"This Budget is carefully calibrated to alleviate inflationary pressures, not add to them," Chalmers said.

The federal government also announced a 40 Australian dollar-a-fortnight hike for JobSeeker recipients, youth allowance, and Austudy recipients.

Australia's annual consumer inflation rate fell to 7.0% in the first quarter of the year from an over-30-year high of 7.8% in the previous quarter, according to the latest data.