Prices on major products are beginning to fall at Coles as the supermarket giant keeps a close eye on any impacts of Donald Trump’s tariffs on products.

Australia’s second largest supermarket chain on Wednesday unveiled a 3.7 per cent increase in sales over the three months to March.

Inflation at the supermarket, excluding tobacco, remained stable at 1.1 per cent for the quarter and significantly below the sector rate of 3.1 per cent, chief executive Leah Weckert said. 

Prices are already falling across several categories, including fresh produce such as broccoli, cauliflower, cabbage and tomatoes, and in the packaged space, with cereal, tea, dental, healthcare, dishwashing, and cleaning goods, she said.

But inflation is still affecting several categories, including cocoa and coffee, because of changes in prices for ingredients.

While Coles is predominantly a domestic business and unlikely to be directly impacted by the US president’s tariffs, the chain is keeping an eye on any secondary effects or indirect impacts that could flow through.

Mr Trump imposed tariffs of at least 10 per cent on trading partners around the world in April, leading to concerns of a trade war that could impact global business when several nations returned fire with retaliatory tariffs.

“It’s probably too early to really tell on that but we are monitoring it, particularly around impacts to things like cost of goods and particularly in the meat space,” Ms Weckert said.

“Processing and beef for example could be one area where we might start to see increases in cost of goods coming through but we are going to need to wait and see.”

While interest rates started to ease this quarter, Ms Weckert said financial concerns remained high for Australians, with one-in-three customers buying more home brand products to save at the checkout.

Consumers were cutting back on treats such as confectionary and alcohol and more families were steering away from meat, going vegetarian a few nights a week, she said.

The supermarket faced challenges through the quarter with weather events, including including flooding and Cyclone Alfred, but those had minimal negative impact on earnings.

“The positive sales impact from pantry stocking and restocking offset store closures and damages, additional supply chain costs, stock write offs and natural disaster leave provided to team members,” Ms Weckert said.

Interest rate relief could come within weeks after a higher than expected inflation print still fell within the Reserve Bank’s target range.

Underlying inflation fell to 2.9 per cent in the year to March and headline inflation held steady at 2.4 per cent, paving the way for a Reserve Bank interest rate cut at its May meeting.

The trimmed mean, the RBA’s preferred inflation measure, grew 0.7 per cent in the March quarter, which pushed the annual figure below three per cent for the first time since 2021.

Headline inflation grew 0.9 per cent to reach 2.4 per cent on an annual basis for a second straight quarter, securely in the lower half of the central bank’s two to three per cent target range.

The main drivers of price rises for the quarter were housing (+1.7 per cent), education (+5.2 per cent) and food and non-alcoholic beverages (+1.2 per cent).

Annual services inflation, which had been sticky and a concern for the RBA, fell to 3.7 per cent from 4.3 per cent in the December quarter, Australian Bureau of Statistics acting head of prices statistics Leigh Merrington said.

“This is the lowest annual outcome for services inflation since the June 2022 quarter, reflecting easing inflation across a broad range of services, including rents and insurance,” he said.

While the headline and underlying inflation figures were slightly higher than consensus forecasts, economists and market analysts still tip the Reserve Bank to cut interest rates next month.

“Australia’s quarterly inflation data were marginally stronger than expected, but (they) shouldn’t move the needle for the RBA which, in our view, remains on track to ease policy by 25 basis points in May,” JP Morgan chief investment strategist Tom Kennedy said.

Treasurer Jim Chalmers pounced on the figures to pitch for a second Labor term ahead of Saturday’s federal election.

“If you think about the economy that we inherited … headline inflation was 6.1 per cent and rising, now 2.4 (per cent), trimmed mean inflation was 4.9 per cent, it is now 2.9 per cent,” Dr Chalmers told reporters.

“Labor is delivering lower inflation, lower taxes, higher wages, immediate and ongoing help with the cost of living.”

While Australia’s economy had turned a corner, economic growth remained sluggish against a backdrop of global uncertainty and US-China trade tensions, Deloitte Access Economics head Pradeep Philip said.

“A May rate cut should not be viewed as the RBA declaring ‘mission accomplished’ in the fight against inflation,” he said.

“Instead, it should be viewed as insurance against any collateral damage a trade war and geopolitical turbulence may cause the Australian economy.”

The impact of rising tensions between China and the US remained unclear, with potential large-scale stimulus from Beijing likely to support exports and prices, while any related supply chain disruptions would also be inflationary.

On the flip-side, Chinese products previously bound for the US could become cheaper as they find new markets.

“This would bring down inflation, making it easier for the RBA to cut rates further to improve confidence amid global uncertainty,” Mr Philip said.

In its most recent minutes, the RBA flagged that its May meeting would be an “opportune time” to revisit its monetary policy setting.

Economists at CBA, ANZ and Westpac expect a 25 basis point rate cut in May, which would bring the cash interest rate down to 3.85 per cent.

“We view an RBA rate cut of 25 basis points in May as a near certainty, given the downside risks to global and domestic growth stemming from global trade policy uncertainty and the inflation outcomes over the past two quarters,” ANZ economist Adelaide Timbrell said. 

Anthony Albanese has laid out his final case for a second term as prime minister as Peter Dutton ruled out agreements with right-wing minor parties to claim the top job.

In a major set-piece speech to the National Press Club just three days out from polling day, Mr Albanese emphasised he was a safe pair of hands to guide the country over the coming three years during a period of international turmoil.

“At a time of global uncertainty when so much in the world is unpredictable, Australians can be sure of where Labor stands and what Labor stands for,” he said in the Wednesday address.

“The Liberals have not changed and they have not learned. It is very clear to all that they have simply not done the work that you need to do if you are to present as a credible alternative government.”

Once again wielding his Medicare card, which has become a frequent sight on the campaign trail, the prime minister ran through his second-term agenda of expanding health care and increasing access to housing.

Mr Albanese also criticised the platform of the opposition leader, saying uncertainties still remained over the coalition’s policies.

“The answer to every question boils down to ‘we’ll tell you after the election’,” he said.

“It beggars belief that someone seeking to be prime minister of Australia could propose such a risky and extreme set of policies, and yet … still refuse to explain what those policies will mean to you.

The prime minister said Labor’s offerings to the public had been out in the open months before the election.

“Australians can be very confident that we will always stand up for Australia, trusting our values and backing our people to build that future,” he said.

Mr Dutton earlier ruled out forming a minority government with One Nation, despite the Liberals and Pauline Hanson’s party trading preferences.

The opposition has listed One Nation at number two on its how-to-vote cards in several crucial marginal seats following a surge in the far-right minor party’s primary vote in published polls.

But the opposition leader said Senator Hanson wouldn’t be part of any future government after Saturday’s federal election if it resulted in a hung parliament.

“I wouldn’t be mucking around with independents and third parties at this election, I really wouldn’t,” he told reporters in Melbourne.

“We don’t want to see a European situation where you’ve got a handful of Greens and left-leaning teal candidates who are holding the government to ransom; that is not going to be good for us.”

Mr Dutton also said the coalition wouldn’t pursue teal independent MPs to form a minority government.

Senator Hanson said while there was no formal preference deal with the opposition, coalition voters had drifted towards One Nation.

“A lot of the sitting members within the Liberal Party agree with my policies, they know we’re on the same page,” she told AAP.

Meanwhile, the opposition is due to release its election-pledge costings on Thursday after days of questions over the numbers.

“We’ll release our costings and it will show a better bottom line under the coalition than the Labor Party,” Mr Dutton said.

The opposition leader also defended members of controversial Christian sect the Exclusive Brethren volunteering for the Liberal Party in marginal seats.

The sect are volunteering even though their members will not turn out to vote for religious reasons.

“People of Christian faiths support both sides of politics and people of no faith support both sides of politics,” Mr Dutton said.

Peter Dutton has ruled out forming a minority government with One Nation, despite the coalition striking a preference arrangement with Pauline Hanson.

The opposition has preferenced One Nation at number two on its how-to-vote cards in several crucial marginal seats, following a surge in support in the far-right minor party’s primary vote.

But the opposition leader said Senator Hanson wouldn’t be part of any future coalition government after Saturday’s federal election, if it results in a hung parliament.

“I wouldn’t be mucking around with independents and third parties at this election. I really wouldn’t,” he told reporters in Melbourne on Wednesday.

“We don’t want to see a European situation where you’ve got a handful of Greens and left-leaning teal candidates who are holding the government to ransom; that is not going to be good for us.”

Mr Dutton also said the coalition wouldn’t pursue teal independent MPs to form a minority government.

Senator Hanson said while there was no formal preference deal with the opposition, coalition voters had drifted towards One Nation.

“A lot of the sitting members within the Liberal Party agree with my policies, they know we’re on the same page,” she told AAP.

“It’s sending a clear message to conservative voters that we are seen to be working together.”

Meanwhile, after days of questions about the coalition’s election costings, the opposition is set to release the numbers on Thursday.

“We’ll release our costings, and it will show a better bottom line under the coalition than the Labor Party,” Mr Dutton said.

Mr Dutton also defended members of Christian sect, the Exclusive Brethren, volunteering for the Liberal Party in marginal seats.

The Brethren are volunteering even though their members will not turn out to vote, for religious reasons.

“People of Christian faiths support both sides of politics and people of no faith support both sides of politics,” Mr Dutton said.

“People ultimately can make a decision about who they want to support – in a democracy we have freedom of speech.”

With just three days until the election, Prime Minister Anthony Albanese will lay out his vision for a second term in office in a set-piece speech to the National Press Club.

It follows the national election in Canada, where a centre-left government was returned on the back of anti-Donald Trump sentiment amongst voters, despite being behind the opposition conservative party in the polls earlier in the year.

While that outcome has given Labor a bit of lift, Mr Albanese stressed the situation for incumbent governments was still challenging.

“We have governed through very difficult times … we know that that’s the case, and around the globe it has been a difficult time to be in government,” he told ABC Radio.

Political strategist Jack Milroy, who has worked on progressive campaigns in Canada and Australia, said the US relationship would be less of a factor on Saturday but voters were still conscious of the global instability.

“The Canadian example has kind of shown that a strong approach to the US seems to pay dividends politically,” he told AAP.

“The Labor Party is in a good position for our election, but it will be interesting to see how they relate to the US going forward.”

Most polls are showing Labor ahead of the coalition on a preferred party basis, although a minority government remains a possible outcome.

Two workers for the federal government have been forced to use a food bank because of exorbitant rents, advocates say, as fresh data shows most rentals are unaffordable.

The two women, in the nation’s capital where the average annual wage is more than $110,000, are among thousands of Australian renters struggling to afford housing, the Anglicare Australia study shows.

One woman, who works for Treasury, told a welfare group she was embarrassed to rely on weekly food donations after her husband and father of her children died and she found herself unable to pay the rent. 

The other woman struggling with rent works at Parliament House.

“We have single fathers coming in as well, we have parents once in private rentals now living in cars,” St John’s Care manager Jason Haines told AAP on Wednesday.

The organisation helps to provide food to struggling people in Canberra.

Families were coming in at breaking point and some were “unable to speak most of the time because a lot of the time they haven’t eaten for three or four days,” Mr Haines said.

People on the lowest incomes “don’t stand a chance” Anglicare executive director Kasy Chambers said.

The organisation’s annual Rental Affordability Snapshot shows fewer than one in 100 full-time workers on the minimum wage can afford homes to rent.

It’s even worse for a person out of work, with the survey of more than 51,000 rental listings showing just three were affordable for someone on JobSeeker.  

The 16th annual snapshot was the worst so far, Ms Chambers said.

“It’s hard to think what we’ll be here saying this time next year.” 

It was up to governments to step up instead of leaving housing to the private sector, Ms Chambers said.

“People tell us frequently about the meals that they have to skip, about not filling prescriptions, about not putting the insurance on the car,” she said.

Anglicare wants an increase in income support, with JobSeeker sitting well under the poverty line, as more people on higher incomes increasingly experience housing stress and face homelessness.

The major parties had committed to spend tens of billions of dollars to address housing supply but this wouldn’t help in the immediate term, Ms Chambers said. 

“We can see this year, we have a significant increase in the amount of properties that are actually available – it has not affected affordability in a positive way,” she said.

Long term reform is needed, including winding back tax breaks for property investors which have been linked to higher housing costs, Ms Chambers said.

The Greens and independent MPs have lambasted the government for failing to address the issue and are calling for holistic reform as well as a lift in welfare payments.

Julia, a student on youth allowance who’s received Anglicare assistance, has been trying to find an affordable room in a share house in Brisbane and is looking at dropping her studies to part-time so she can work more to afford rent. 

Cait, a single woman on JobSeeker trying to find a Sydney rental ahead of the end of her lease, said it was impossible to find somewhere affordable and she may need to turn to crowdfunding to help her pay rent.

A second author has accused Brooke Bellamy of stealing recipes for use in her bestselling cookbook Bake With Brooki. 

Hours after RecipeTin Eats’ Nagi Maehashi raised allegations of copyright infringement on Tuesday night, Sally McKenney, author and blogger behind Sally’s Baking Addiction, levelled the claims. 

Ms Bellamy, who owns the popular Brooki Bakehouse in Brisbane, denied the accusations, saying she had been making and selling her recipes before Ms Maehashi’s were published.

The allegations relate to Ms Maehashi’s caramel slice and baklava recipe, along with Ms McKenney’s Best Vanilla Cake recipe. 

Ms McKenney posted on social media, saying she was first alerted to the similarity months ago.

She said her recipe was first published in 2019.

“One of my recipes was also plagiarised in this book and also appears on the author’s YouTube channel,” she said.

“Original recipe creators who put in the word to develop and test recipes deserve credit-especially in a best selling cookbook.”

Bake With Brooki is a bestselling cookbook published by Penguin in October last year and retails for $49.99.

Ms Bellamy quickly became a global sensation after sharing “day in the life” videos on TikTok, which receive millions of views each day.

She is best known for her cookies and has opened pop-up stores in Abu Dhabi and Dubai.

Both Penguin and Ms Bellamy deny the allegations.

“I did not plagiarise any recipes in my book which consists of 100 recipes I have created over many years,” she said. 

“In 2016, I opened my first bakery. I have been creating my recipes and selling them commercially since October 2016.”

Ms Bellamy posted an image showing her caramel slice, which dated back to December 2016. 

“On March 2020, RecipeTin Eats published a recipe for caramel slice. It uses the same ingredients as my recipe, which I have been making and selling since four years prior,” she said. 

The Brisbane baker said she “immediately offered” to remove both recipes from future reprints to prevent further aggravation”.

In Ms Maehashi’s Instagram post, she described Ms Bellamy of “profiting” from the alleged plagiarised recipes. 

The author claims she first raised concerns with Penguin in December.

“I put a huge amount of effort into my recipes. And I share them on my website for anyone to use for free,” she said.

“To see them plagiarised (in my view) and used in a book for profit, without credit, doesn’t just feel unfair. It feels like a blatant exploitation of my work.” 

Ms Maehashi is the founder of popular website, RecipeTin, which has 1.5 million followers on Instagram. 

She is also the author of award-winning cookbooks Dinner and Tonight.

Anthony Albanese will seek a phone call with Donald Trump on US tariff negotiations should he be re-elected as prime minister after Saturday’s election.

The US president has confirmed he’s aware the federal government has been trying to get in touch to reach a trade deal, after Australia was slapped with 10 per cent tariffs on goods exports to America.

“They are calling and I will be talking to (Mr Albanese), yes,” Mr Trump told reporters at the White House overnight.

The prime minister said Mr Trump’s remark was a “throwaway comment” but indicated he would aim for a phone conversation, depending on the outcome of the federal vote.

“I’m not staying up at night trying to ring anyone at the moment, I’m in an election campaign,” he told ABC Radio on Wednesday.

“I’m sure if we are successful we will have a discussion after Saturday.”

“We have a relationship. We’ve already had a couple of phone calls, but I assure you that my campaign is front and centre.”

Mr Albanese said while a phone call with Mr Trump was not a guarantee, a conversation with world leaders such as the US president was likely after the election, should he win a second term.

At the final leaders’ debate of the campaign on Sunday, Mr Albanese said he wasn’t sure if the US president had a mobile when asked if he had his number, before adding that such matters were usually conducted on a more official basis.

Liberal senator Michaelia Cash said the fact that Mr Albanese hadn’t been able to get another one-on-one call with Mr Trump showed there was no relationship with the Australian ally under Labor.

“The previous coalition government – which, because of the nature of the relationship that we had – we were successful in getting the exemption from the steel and aluminium tariffs (under the previous Trump administration).

“So after this election we look forward – if we are elected – to speaking with our greatest ally, the United States of America.”

Treasurer Jim Chalmers said while Australia wasn’t the only country affected by US tariffs the government was “uniquely well placed” to argue its case for their removal.

“We’ve made it clear we’re engaging wherever we can, whenever we can – obviously, that happens at the highest levels as well,” he told ABC radio.

“We think that those tariffs are unwarranted, we think they’re unwise.

“Treasury modelling … makes it clear we are concerned about the impact on global demand and global growth.”

The president’s comments were being viewed in a positive light, Labor minister Murray Watt said.

“We have to take him at his word on that and we look forward to being able to continue the engagement we’ve had with the American administration about the tariffs that we think are totally unjustified,” he told Nine’s Today show on Wednesday.

Senator Watt confirmed that Australia’s approaches were being conducted at various levels, including the ambassador to the US Kevin Rudd and department officials, given the Labor government was in caretaker mode ahead of Saturday’s election.

The US has also slapped a 25 per cent tariff on Australian steel and aluminium exports to the US.

The goods tariff took effect on April 5 while the steel and aluminium tariff began on March 12.

Donald Trump has confirmed he will speak to the prime minister after Anthony Albanese admitted this week he had recently been unable to reach the US president to talk about trade tariffs.

Australia is angry after being slapped with a 10 per cent tariff on goods exports to the US, and 25 per cent on steel and aluminium exports, by its long-term diplomatic ally.

“They are calling and I will be talking to him, yes,” Mr Trump told reporters at the White House overnight.

The president’s comments were being viewed in a positive light, Labor minister Murray Watt said.

“We have to take him at his word on that and we look forward to being able to continue the engagement we’ve had with the American administration about the tariffs that we think are totally unjustified,” he told Nine’s Today show on Wednesday.

Mr Watt confirmed that Australia’s approaches were being conducted at various levels, including the ambassador to the US Kevin Rudd and department officials, given the Labor government was in caretaker mode ahead of Saturday’s federal election.

“The prime minister spoke to President Trump about these matters some time ago,” Mr Watt said.

“But yeah … we look forward to re-engaging at that level, and we’ll be making a very strong case that these tariffs shouldn’t be applied to Australia.”

Treasurer Jim Chalmers said while Australia wasn’t the only country affected by US tariffs the government was “uniquely well placed” to argue its case for their removal.

“We’ve made it clear we’re engaging wherever we can, whenever we can – obviously, that happens at the highest levels as well,” he told ABC radio.

“We think that those tariffs are unwarranted, we think they’re unwise.

“Treasury modelling … makes it clear we are concerned about the impact on global demand and global growth.”

At the final leaders’ debate of the campaign on Sunday, Mr Albanese said he wasn’t sure if the US president had a mobile when asked if he had his number, before adding that such matters were usually conducted on a more official basis.

However, Liberal senator Michaelia Cash said the fact that Mr Albanese hadn’t been able to get another one-on-one call with Mr Trump showed there was no relationship with the Australian ally under Labor.

“The previous coalition government – which, because of the nature of the relationship that we had – we were successful in getting the exemption from the steel and aluminium tariffs (under the previous Trump administration).

“So after this election we look forward – if we are elected – to speaking with our greatest ally, the United States of America.”

US President Donald Trump has signed an order to soften the blow of his auto tariffs with a mix of credits and relief from other levies on materials.

His trade team has also touted its first deal with a foreign trading partner, with the developments easing investor worries about Trump’s erratic trade policies.

The change comes as Trump heads to Michigan, cradle of the US auto industry, and just days before a fresh set of 25 per cent import taxes is set to kick in on automotive components.

The trip, on the eve of his 100th day in office, comes as Americans take an increasingly dim view of Trump’s economic stewardship, with indications his tariffs will weigh on growth and could drive up inflation and unemployment.

In his latest partial reversal of tariff policies, the Republican president agreed to provide carmakers with credits for up to 15 per cent of the value of vehicles assembled domestically. These could be applied against the value of imported parts, allowing time to bring supply chains back home.

Auto industry leaders had lobbied the administration furiously during the weeks since Trump first unveiled his 25 per cent tariffs on imported vehicles and auto parts.

The levies, aimed at forcing automakers to reshore manufacturing domestically, had threatened to scramble a North American automotive production network integrated across the US, Canada and Mexico.

It offers the industry a “little relief” as companies invest in more US production, Trump said as he left Washington for Michigan on Tuesday, US time.

“We just wanted to help them … if they can’t get parts, we didn’t want to penalise them.”

The uncertainty unleashed across the auto sector by Trump’s tariffs remained on full display Tuesday when GM pulled its annual forecast even as it reported strong quarterly sales and profit.

In an unusual move, the carmaker also opted to delay a scheduled conference call with analysts until later in the week, after the details of tariff changes were known.

Meanwhile, US Commerce Secretary Howard Lutnick told CNBC he had reached one deal with a foreign power that should permanently ease the “reciprocal” tariffs Trump plans to impose. Lutnick declined to identify the country, saying the deal was pending local approvals.

“I have a deal done … but I need to wait for their prime minister and their parliament to give its approval,” Lutnick said.

Lutnick’s comments helped further lift stock prices that had been battered by Trump’s moves to reshape global trade and force goods makers to shift production to the US.

The benchmark S&P 500 Index closed 0.6 per cent higher for a sixth day of gains, its longest streak of gains since November.

Softening the impact of auto levies is the Trump administration’s latest move to show flexibility on tariffs which have sown turmoil in financial markets, created uncertainty for businesses and sparked fears of a sharp economic slowdown.

A Reuters/Ipsos poll published Tuesday showed just 36 per cent of respondents approve of his economic stewardship, the lowest level in his current term or in his 2017-2021 presidency.

Amazon has denied a report that it planned to disclose to customers on its website the cost that US tariffs imposed by President Donald Trump were adding to its products, after the White House criticised the idea.

White House press secretary Karoline Leavitt said she had discussed with Trump a report by Punchbowl News about plans to disclose tariff costs, and his message about it was: “This is a hostile and political act by Amazon.”

Amazon said on Tuesday it never considered listing tariffs on its main retail site and nothing was implemented on any company site.

“The team that runs our ultra low cost Amazon Haul store considered the idea of listing import charges on certain products. This was never approved and (is) not going to happen,” a company spokesperson said.

Trump has imposed a tsunami of tariffs on US trading partners, including ones on China rising by 145 per cent since Trump took office.

Car makers and others have said new tariffs could drastically hike the cost of consumer goods.

Amazon set up Amazon Haul in November, to compete against Chinese-founded rivals like Temu and Shein, which could be effected by tariff changes. 

This allows shoppers to purchase $US5 ($A7.80) handbags and $US10 jumpers from China-based sellers, although they face longer shipping times.

Trump this month signed an executive order that closes a trade loophole known as “de minimis” that has allowed low-value packages from China and Hong Kong to enter the United States free of duties. 

The order takes effect on May 2.

Reuters reported on Monday some third-party merchants who previously sold China-made goods during Amazon’s premier July Prime Day shopping event are sitting it out this year or reducing the amount of discounted merchandise they offer.

Leavitt on Tuesday cited a 2021 report by Reuters that the tech company had partnered with a “Chinese propaganda arm.”

“So, this is another reason why Americans should buy American,” Leavitt said, underscoring the Trump administration’s efforts to shore up critical supply chains and boost domestic manufacturing.

Amazon in 2021 said it “complies with all applicable laws and regulations, wherever we operate, and China is no exception”.

The White House tweeted a link to the Reuters report earlier on Tuesday. 

The White House did not immediately comment after Amazon denied the report. 

with AP