RBA Governor shows true grit to keep rates on hold at a base rate of 4.35%
At this time in 2023 with the distraction of the general public watching the running of the 163rd Melbourne Cup the Reserve Bank of Australia Board (RBA) took a swipe at lingering inflation by raising the base cash rate by 0.25% to a 12 year high of 4.35%. It was the first meeting of the […]
Food price inflation is still the same stubborn annual level as the previous year
Take away all the rebate goodies and special offers from the government and the underlying inflation rate for food in 2024 is the same as in 2023 at 3.3% While overall headline inflation eased in the latest quarter, the annual rate of food price inflation held fast at 3.3% according to the latest quarterly Consumer […]
Inflation rate gives the RBA a slam dunk to increase rates on Melbourne Cup Day 2023
According to Moody’s Analytics report on Australia Consumer Price Index the uptick in quarterly price growth will put pressure on the Reserve Bank Australia (RBA) to hike rates further when they meet next on 7 November, Melbourne Cup Day. Aussie inflation isn’t playing ball, the Moody’s Analytics report outlines. Across the September quarter, underlying inflation rose […]
CPI in March 2022 quarter shows highest year-on-year food price inflation in more than 10 years
The quarterly Consumer Price Index data from the Australian Bureau of Statistics, released today, shows food price inflation accelerated in the March 2022 quarter, with food prices recording the highest year-on-year rise in more than 10 years. And consumers should be bracing for further food price rises in coming months, as the impacts of higher […]