The RBA governor is the real audience for this year's budget

In normal circumstances, racking up back-to-back surpluses would allow a two-year-old, first-term government to splurge some pre-election delight on the population.Your two-minute guide to the federal budget: Energy bill relief, rent assistance, and freeze on cost of medicines

So almost every bit of help that's been thrown at households comes under the banner of busting inflation.The $300 thrown at 10 million households and $325 for one million businesses for energy relief, is not merely designed to suppress power bills. It's also geared at attacking broader inflation - this is why there's been no discrimination between rich and poor households.

Treasury reckons the $300 thrown at every household's power bill will reduce inflation by 0.5 percentage points, which - you guessed it - would see CPI cut to 2.75 per cent in 2024-25, possibly by the end of this year.

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