Peter Martin: Does Tony Abbott know the price of cheese? Or bread ...

Someone had better tell Tony Abbott about the price of cheese. Apparently the TV station had priced a basket of groceries and found them up 10 per cent in a year. It's found the price of food up somewhat less - 1.4 per cent over the year, and actually down between the March and June quarters. The average price of a dozen eggs slid from $4.44 to $4.37. The average price of a 700g sliced white loaf slid from $3.86 to $3.82. If Tony Abbott is really concerned about prices he should turn his eyes away from Woolworths and Coles (which has reported deflation over the past quarter) and look at electricity which has jumped in price 18 per cent.