Australia’s headline inflation rate has fallen to its lowest level in almost three years, coming in at 2.7% for the year to August, according to the Australian Bureau of Statistics (ABS). This compares with a 3.5% rise in CPI in July.
It was good news, too, for underlying inflation (which excludes volatile items), which lifted 3.4%, down from July’s 3.8%. After voting to keep interest rates on hold yesterday, the RBA Board made it clear it was focused on underlying inflation, also known as trimmed mean, when deciding whether to cut, hold and raise rates.
Know More: https://www.forbes.com/advisor/au/personal-finance/inflation-rate-australia/