Australia’s inflation rate drops thanks to smaller rises in fuel and housing as the Reserve Bank prepares to meet
Australia’s inflation rate has dropped to 6.8 per cent.
These are the latest figures coming from the Australian Bureau of Statistics.
It shows the monthly Consumer Price Index has fallen for the second month in a row.
The figure is a bit better than what economist’s were thinking.
The data shows the biggest inflation drivers were new housing, food and alcohol.
Now, this is set to ease pressure on the Reserve Bank when it meets next week.
It wants to see inflation back within the 2 or 3 per cent range but it doesn’t really expect that to happen until 2025.
