The prime minister has been on the defensive this week over a two-decade high inflation rise of more than five per cent, saying factors outside the government's control have led to an increase in everyday goods.

"I do understand that Australians are facing cost of living pressures. I do understand that there is rising pressure on interest rates," he said.

"Impacts on inflation are coming from well beyond Australia's shores and some factors, particularly more recently, when it impacts on fruit and vegetable prices when it comes to the recent floods."

Relief would flow through to struggling Australians in the form of tax relief and one-off payments for pensioners, Mr Morrison said as he spruiked his government's economic credentials.

"The reason we can do that is because of a strong economy. The reason we can do that is because of how we manage money," he said.

"These are very uncertain times and Australians don't know what their economic plan is because Labor doesn't have one. Labor hasn't got the record on managing the economy."

Labor hit back at the government's economic record, with Opposition Leader Anthony Albanese saying the government never takes responsibility for economic downturns and always seeks to blame other factors.

"I'll say this very clearly. They will be better off under a Labor government than they will be under a Morrison government that says life is easy now," he said.

"(The government's measures) all end as soon as people cast their votes. They're all short term."

But Labor has struggled to put a figure on exactly how much Australians would be better off under their government or how much cheaper everyday items would be as they criticise the cost of fruit and vegetables under Mr Morrison's watch.

"We make their child care cheaper, we make their power bills cheaper, we make their health care cheaper and more accessible. And we get their real wages moving again," Shadow Treasurer Jim Chalmers said.

"This is how we ease the cost-of-living pressures on Australian families."

The prime minister is due to start the day in Sydney on Sunday.

Meanwhile, Mr Albanese is in Perth along with senior Labor MPs to launch the party's official campaign as it plots its path to government through Western Australia.

Mr Chalmers accused the government of abandoning WA and going head to head with Premier Mark McGowan as Labor looks to flip the seats of Pearce, Swan and Hasluck.

"We can't have another three years of Scott Morrison playing one state off against another. We can't have another three years of Scott Morrison playing politics, trying to divide east and west," he said.

"The choice at this election is between Anthony Albanese working with Mark McGowan, or Scott Morrison working with Clive Palmer,

Mr Albanese will use the launch to unveil a new housing policy, where a Labor government would give homebuyers up to 40 per cent equity to buy a home.

The Greens have also launched a policy for LQBTQI Australians to achieve equality, including through a rights charter to bolster federal anti-discrimination law and the appointment of an equality minister and LGBTQI human rights commissioner.

The policy is due to cost over $200 million annually for four years.

Australian Associated Press