Tag: inflation rate
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Fresh blow for Aussie home owners as inflation hits high
Underlying inflation has risen to three per cent over the year to September, damaging mortgage holders’ hopes of an interest rate cut. Housing, recreation and culture, alcohol and tobacco, and communication had the biggest price increases over the most recent quarter, according to the Australian Bureau of Statistics. Underlying or trimmed-mean inflation is the RBA’s…
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Economy ‘in a good spot’ despite sticky inflation: RBA
Price rises in Australia’s services sector remain difficult to contain despite the national economy sitting in a good position, the central bank chief warns. Inflation is at 2.8 per cent according to the latest monthly reading, which is at the upper end of its target range of two to three per cent. But Reserve Bank…
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Surprise data shows inflation falling to four-year low
Inflation has fallen to a seven-month low, bolstering hopes of an imminent cut to interest rates. Data from the Australian Bureau of Statistics on Wednesday showed headline inflation fell from 2.4 per cent to 2.1 per cent in May. The monthly figures also showed a sharp drop in trimmed mean inflation, which removes volatile price…
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Annual inflation cools to 3.5 per cent in July
The monthly consumer price index rose by a stronger-than-expected 3.5 per cent over the 12 months to July. The inflation gauge was tipped to moderate to 3.3 per cent in July, from 3.8 per cent in June, to reflect energy bill relief kicking in across some parts of the country. “The first instalments of the…
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Inflation creeps up again
New Australian Bureau of Statistics (ABS) data showed the annual rate of inflation increased to 3.6 per cent in April, up by 0.1 per centage points on the prior month. The monthly consumer price index (CPI) – a measure of inflation – was above consensus forecasts after economists anticipated the monthly consumer price gauge would…
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Are we slaying the inflation dragon? Reserve says we’ll be back on track by December
Treasury predictions in the budget, which will be handed down on Tuesday, show inflation dropping to 2.75 per cent by December. The forecasts also show inflation remaining at 2.75 per cent by the middle of 2025, before a further drop to 2.5 per cent by the end of that year. The modelling in the budget…