Core inflation in Australia unexpectedly fell to 3.2% for the December quarter, beating economist predictions and boosting hopes for an interest rate cut next month. This drop, from a revised 3.6% in the previous quarter, is the lowest end of what some banks were forecasting. Headline inflation also slowed significantly to 2.4%, driven by falling housing and transport costs, as well as the federal government's energy bill relief.
Core inflation in Australia has fallen to a better-than-expected 3.2 per cent for the December quarter, boosting hopes of an interest rate cut next month.
However, new data from the Australian Bureau of Statistics released today had it at 3.2 per cent, a drop from a revised 3.6 per cent the previous quarter.Inflation slowed more than economists expected in December. "If you are a mortgage holder or a small business owner, this is about as good a set of numbers as you could have asked for."
That fall was driven by a drop in housing and transport costs, as well as the federal government's energy bill relief.
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