Inflation in the June quarter edged marginally higher, rising one per cent over the period, giving households hope they may be spared a further rate hike next week.
Inflation shows signs of slowing in June, giving households hope Reserve Bank may opt against hiking rates
The figures, released on Wednesday by the Australian Bureau of Statistics, broadly matched expectations, with a headline figure of 3.8 per cent, up from 3.6. KPMG senior economist Michael Malakellis had forecast a 3.8 per cent rate, adding any number over four per cent would"most likely" have lead to a rate hike unless the trimmed mean remained flat or ticked lower. Picture: NCA Newswire/Gaye Gerard.
Mr Malakellis added that continued strength in the labour market, unexpected resilience in household consumption and fiscal policy, including tax cuts and temporary cost of living relief, were creating a"particularly difficult" environment for the RBA, as it attempts to help return the economy to stability and avoid a recession.
RBA ABS Inflation Australian Bureau Of Statistics Michael Malakellis KPMG Interest Rates
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inflation rises to 3.8% amid hopes the RBA will hold off hiking interest rates againAustralia’s consumer price index rose in the June quarter in line with economists’ forecasts
Read more »
Why Wednesday’s inflation figures mean the RBA faces its toughest decision in a generationSome economists believe the result of tomorrow’s consumer price index is all the RBA will need to push the official cash rate to a fresh 12-year high.
Read more »
Why Wednesday’s inflation figures mean the RBA faces its toughest decision in a generationSome economists believe the result of tomorrow’s consumer price index is all the RBA will need to push the official cash rate to a fresh 12-year high.
Read more »
Why Wednesday’s inflation figures mean the RBA faces its toughest decision in a generationSome economists believe the result of tomorrow’s consumer price index is all the RBA will need to push the official cash rate to a fresh 12-year high.
Read more »
Brutal hike looms after RBA declares inflation its ‘highest priority’All eyes are on the Reserve Bank's August meeting, after minutes from its last interest rate decision revealed returning inflation to target was the bank's 'highest priority' following a series of shock rises.
Read more »
Mortgage risks are rising but are they still understated by the RBA?Regulators keep telling us that everything is OK and Australians are coping with surging mortgage repayments. But does the reality for many households match the soothing reports?
Read more »