ABS data shows consumer price index is stabilising, which will feed into the RBA’s next interest rate decision in May
Australians have been under pressure from rising costs, including at supermarkets, but last month’s CPI figures show inflation moderating.Australians have been under pressure from rising costs, including at supermarkets, but last month’s CPI figures show inflation moderating.The monthly index of consumer prices rose only 3.4% in the year to February, stabilising near the pace of the increases in January and December, the Australian Bureau of Statistics said on Wednesday.
Sign up for Guardian Australia’s free morning and afternoon email newsletters for your daily news roundup After the ABS announcement, the ASX 200 bumped 0.25% higher and the Australian dollar fell slightly, as investors factored in the potential for a RBA rate cut a little sooner than before. Energy prices have eased thanks to electricity prices growing only 0.3% in February, down from an 0.8% rise in January, with. Gas prices also turned around in the year to February, falling 2.4% compared with an annual rise of 8.5% in December, as households continued to
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