Inflation Falls Within Target Range
Inflation falls to within RBA's target limit but economists cautious about overall picture, ASX closes lower
The annual rate of headline inflation fell to 2.7 per cent in August, down from 3.5 per cent in July. The Australian share market closed lower. Look back on the day's events and insights with our specialist business reporters.
Australia: Inflation Falls Within The Target Range
The headline inflation rate has fallen within the Reserve Bank of Australia’s target range for the first time since October 2021.
Inflation officially within RBA's target band
Down from 3.5% in July and marking the lowest reading since August 2021, the monthly data means inflation finally sits within the RBA ’s 2-3% inflation target band. However, the fight against inflation hasn’t been won yet, with the central bank putting less onus on the more volatile monthly figures compared to the quarterly data.
Australian Inflation Rate Slides to 2.7% in August and into the RBA Target Range
Aussie inflation slows to 2.7%, influencing AUD/USD movement. Softer CPI sparks RBA rate cut speculation, with US home sales data key to the pair’s next move.
Monthly inflation falls within RBA's target band to 2.7 per cent in August, down from 3.5 per cent in July
Monthly inflation has fallen within the Reserve Bank’s target band to 2.7 per cent in August, down from 3.5 per cent in July. Inflation has fallen in to 2.7 per cent in August, down from 3.5 per cent in July.
Australia inflation slows to 3-yr low in Aug, core still above target
Australian consumer price inflation slowed to a three-year low in August thanks to government rebates on electricity and a drop in petrol, while core inflation hit its lowest level since early 2022 in a sign costs were cooling.
Australia’s Headline Inflation Rate Falls Back to Target
Australia’s headline inflation rate fell within the Reserve Bank of Australia’s target band for the first time since 2021 in August, but economists warn that this won’t trigger an immediate interest-rate cut.
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