Labor alone to blame for high inflation: Bishop

Deputy Opposition leader Julie Bishop says the Federal Government should stop blaming the previous government for high inflation figures and start taking the blame itself. Prime Minister Kevin Rudd has blamed global trends such as high oil and food prices and the previous government for the highest quarterly inflation rise in 17 years. Figures released on Wednesday showed inflation jumped to 4.5 per cent in the June quarter, signalling an increase in the cost of living. Like the Prime Minister, Federal Treasurer Wayne Swan attributed the rise to rising fuel costs and the global credit crunch. He also put some of the blame on the previous government, saying that reckless spending and a failure to invest meant the inflation rate was at a 16-year-high when Labor came into power. Ms Bishop has told ABC1's Lateline that Labor... [read full story]