New inflation figures show that despite a further rise in the cost of living, it is not climbing any faster than expected by the Reserve Bank.
Home buyers may have avoided an August interest rate rise after inflation figures released Wednesday morning showed price pressures in line with Reserve Bank forecasts.
The closely watched underlying measure of inflation rose by 0.8 per cent in the quarter, pulling the annual rate down to 3.9 per cent. It was the sixth consecutive quarterly fall in this measure. The supermarket was more expensive for most people with food and non-alcoholic beverages up by 1.2 per cent in the quarter to be up 3.3 per cent over the year. Despite the increase, it was the sixth consecutive quarterly fall in food inflation which had peaked at 9.2 per cent in December 2022.
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