Inflation lands in RBA's target range for first time in four years
The prospects of an interest rate cut in May have increased in the wake of the latest data showing inflation has seemingly been tamed after years off the leash.
The new inflation figures are set to loom large in the lead-up to polling day on Saturday (3 May). (Image source: Shutterstock.com)
The measure of inflation most carefully watched by the Reserve Bank of Australia has fallen within the central bank’s preferred range for the first time in four years.
Trimmed mean annual inflation fell to 2.9 per cent from 3.3 per cent during the previous quarter, marking the first time that trimmed mean annual inflation has fallen with the RBA’s 2-3 per cent target band since December 2021.
Trimmed mean, or underlying, inflation is weighted t…
