Australia news live: Lidia Thorpe says Invasion Day ‘a reminder we are still at war’

LIVE – Updated at 06:03 Follow the day’s news.   06:03 Economy slows as inflation pressures ease A slight pullback in labour

costs and other business expenses suggests inflation is starting to stabilise, AAP reports. Evidence of elevated but easing purchase and labour costs and final prices in

the NAB’s December business survey suggests inflationary pressures are losing steam. Despite slowing price and cost growth, price pressures are still robust and likely to

feed into another strong inflation print on Wednesday. For the Reserve Bank, which has been hiking interest rates to drag inflation back within its 2 to 3 per cent target

range, signs of easing inflation will be welcome.   05:56 Joe Hinchliffe Australian councils’ use of carbon offsets under renewed scrutiny Renewed

questions are being asked about Australian councils’ use of international projects to offset local carbon emissions, off the back of a Guardian investigation that found 90% of

rainforest credits issued by one leading company were likely worthless. The research into Verra, a world leader in the rapidly growing voluntary offsets market, found

that the majority of rainforest offset credits were likely “phantom credits” and do not represent genuine carbon reductions. The company strongly disputes the studies’

conclusions, has strenuously defended its projects and challenged the methods used to undermine their credibility, saying they cannot capture the true impact of projects on the

ground. They say this explains the difference between the credits it approves and the emission reductions estimated by scientists.