Inflation rate Australia

2023 - 3 - 29

Post cover — Image courtesy of "The Guardian"

Australia's annual inflation rate falls to 6.8% fuelling hopes cost of ... (The Guardian)

The consumer price index rose at annual pace of 6.8% last month, the Australian Bureau of Statistics reported on Wednesday. Economists had expected the annual ...

Travel and and accommodation rose at annual pace of 14.9% in February. There’s some relief on another energy front, though, with automotive fuel prices rising an annual rate of 5.6% last month, the slowest pace in two years. The RBA’s minutes for its 7 March meeting showed board member were prepared to consider a pause in coming months. The biggest contributors to February’s annual increase included the cost of housing, which rose 9.9% from a year earlier. The moves indicate that investors trimmed their bets on the Reserve Bank lifting its key interest rate next week. Economists had expected the annual rate would have dropped to about 7.2% from

Australia's inflation rate slows to 6.8 per cent in February (9News)

New data from the Australian Bureau of Statistics (ABS) revealed the growth of the monthly consumer price index (or CPI) fell slightly in February, signalling ...

"We now expect a pause in April to be followed by a final increase of 0.25 per cent at the May meeting," he said. "The annual increase for the Housing group in February (+9.9 per cent) was lower than January (+10.4 per cent)," she said. "New dwellings grew 13.0 per cent in the 12 months to February which is the lowest annual growth since February 2022 as price rises for building materials continue to ease. "This month's annual increase of 6.8 per cent is lower than the 7.4 per cent annual rise reported in January 2023," she said. "This marks the second consecutive month of lower annual inflation, also known as 'disinflation', from the peak of 8.4 per cent in December 2022." [inflation rate](https://www.9news.com.au/inflation)has risen 6.8 per cent in the year to February 2023, down slightly on the 7.4 per cent annual rise reported in January.

Australia's inflation rate slows ahead of crunch interest rates decision (SBS)

Another decline in inflation in the Australian Bureau of Statistics' monthly consumer price index was anticipated after a sharper-than-expected fall from the ...

Housing made the biggest contribution to the annual inflation reading, but at 9.9 per cent annual growth was down from 10.4 per cent in January. Consumer prices lifted 6.8 per cent in the 12 months to February, sinking from 7.4 per cent annual growth in January. "This marks the second consecutive month of lower annual inflation, also known as 'disinflation', from the peak of 8.4 per cent in December 2022," ABS head of prices statistics Michelle Marquardt said.

Australian Inflation Rate: CPI Declines To 6.8% (Forbes)

Australia's annual inflation rate has hit 7.3%, according to the Australian Bureau of Statistics latest quarterly figures.

The RBA has previously conceded there is a 12 to 18-month lag between rate adjustments and any impact on [inflation](https://www.forbes.com/advisor/au/personal-finance/why-is-inflation-rate-so-high/). The RBA has been aggressively hiking rates on [home loans](https://www.forbes.com/advisor/au/home-loans/home-loan-interest-rates-in-australia/) since May last year. As of October, the interest rate is 2.6%. Read our [editorial disclaimer here](https://www.forbes.com/advisor/au/editorial-disclaimer/). The recent floods in Victoria are expected to heighten inflationary pressures. Since September 29, the ABS has been publishing monthly, rather than just quarterly, data of inflation to give economists and politicians the most accurate, up-to-date overview of the economy. The RBA was anticipating mean inflation to come in at 6.5% The Board remains resolute in its determination to return inflation to target and will do what is necessary to achieve that.” The annual inflation figure was released last week and came in at 7.8%, which all but confirms the RBA will lift rates again when it meets next week. The banks have come under fire in recent weeks for hiking on one type of product only—home loans—and stalling when it comes to savings accounts. The RBA has an inflation target of between 2 and 3%. In a slight reprieve for motorists, fuel prices rose 5.6% in the year to February, down from January’s annual rise of 7.5%.

Monthly CPI indicator up 6.8% in the year to February 2023 (Australian Bureau of Statistics)

The monthly Consumer Price Index (CPI) indicator rose 6.8 per cent in the year to February 2023, according to the latest data from the Australian Bureau of ...

This was primarily due to Holiday travel and accommodation prices easing from an annual rise of 17.8 per cent in January to 14.9 per cent in February. Prices for Food and non-alcoholic beverages eased slightly from an annual rise of 8.2 per cent in January to 8.0 per cent in February. Automotive fuel prices rose 5.6 per cent in the year to February, down from January’s annual rise of 7.5 per cent. Recreation and culture prices moderated this month with annual growth of 6.4 per cent in the year to February, down from 10.2 per cent in January 2023. "Since rising 29.3 per cent in the 12 months to December, price rises for Holiday travel and accommodation have eased to 14.9 per cent in the 12 months to February. Rent prices rose again due to the tight rental market, maintaining the 4.8 per cent annual growth recorded in January. This new series showed that electricity prices rose 17.2 per cent for the year to February." The easing in February follows strong demand for domestic and international airfares in December in the lead up to Christmas and prices remained high for accommodation in January during school holidays. In the case of the monthly CPI indicator, when excluding holiday travel, the annual movement of 6.6 per cent in February is slightly lower compared to 6.8 per cent in January." CPI inflation is often impacted by items with volatile price change such as fruit and vegetables, automotive fuel and holiday travel. This marks the second consecutive month of lower annual inflation, also known as ‘disinflation’, from the peak of 8.4 per cent in December 2022." The most significant contributors to the annual increase seen in February were Housing (+9.9 per cent), Food and non-alcoholic beverages (+8.0 per cent), Transport (+5.6 per cent) and Recreation and culture (+6.4 per cent).

Inflation keeps falling, increasing chances of a Reserve Bank ... (ABC News)

The official measure of inflation falls for the second month in a row, easing pressure on the Reserve Bank to hike interest rates next week.

We've changed our menu prices a couple of times in the last few months but we're very reluctant to do that because, you know, you want to keep your regular customers. So I would still spend 50, 60 to 70 hours a week running this business with my wife." "Passing the price rises (to customers) is the last resort. "We expect another 25-basis-point hike in the cash rate in the April and the May meetings, which would take the cash rate to a terminal rate of 4.1 per cent," she said. That's how bad it is." "When I've gone through our invoicing system and bookkeeping records. "We think that actually the RBA is going to need to hold at that restrictive level for quite some time, because there is such a gap between demand and supply at the moment in the Australian economy." "We just don't think the current level of the cash rate is sustainable for Australia at this current point in the cycle." "Prices for food and non-alcoholic beverages eased slightly, from an annual rise of 8.2 per cent in January to 8.0 per cent in February," said the ABS head of price statistics Michelle Marquardt. "Meals out and takeaway food (+7.3 per cent) was the main contributor to the annual increase, followed by food products not elsewhere classified (+11.8 per cent), bread and cereal products (+12.5 per cent), and dairy and related products (+14.3 per cent)," she noted. The ABS said the most significant contributors to the annual increase in prices were housing (+9.9 per cent), food and non-alcoholic beverages (+8.0 per cent), transport (+5.6 per cent) and recreation and culture (+6.4 per cent). On Wednesday morning, the Australian Bureau of Statistics' monthly consumer price index showed annual inflation of 6.8 per cent over the year to February, down from 7.4 per cent in January and a peak of 8.4 per cent in December.

Australia's inflation rate drops (Ticker NEWS)

Australia's inflation rate drops thanks to smaller rises in fuel and housing as the Reserve Bank prepares to meet.

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