Inflation returns to RBA's preferred range for first time since pandemic
Inflation has fallen to its lowest level since the Covid pandemic, raising hopes among borrowers that interest rate cuts could now be imminent.
Will the latest landmark inflation figures pressure the RBA into an interest rate cut? (Image source: Shutterstock.com)
For the first time in three-and-a-half years, inflation has returned to the Reserve Bank of Australia’s (RBA) target band of 2 to 3 per cent.
The consumer price index fell to 2.8 per cent annually, after rising just 0.2 per cent in the September quarter, according to Australian Bureau of Statistics (ABS) data released Wednesday (30 October).
Michelle Marquardt, ABS head of Prices Statistics, said the September quarter’s rise of 0.2 per cent was…
