An economic "shield" is sparing Australians from the worst of shocks rattling the global economy, despite soaring inflation and cost-of-living pressures, the Prime Minister claims.<br /><br />But Scott Morrison did not commit to extending temporary relief, saying the global instability driving higher prices "won't go on forever".<br /><br />Speaking in Cairns on Thursday morning after inflation spiked to its highest level since 2000, Mr Morrison conceded cost-of-living pressures were being keenly felt by Australian households.
