Australia inflation slows to 3-yr low in Aug, core still above target

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SYDNEY: 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.

Electricity prices fell almost 15% in August, while petrol dropped 3.1%.

"The RBA remains wary of inflation trends for now, so monetary policy will look through this one month of abnormal price data".

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Article Details

Category: EconomyBusiness

Markets: MalaysiaAustralia

Topics: /Business/Business News Inflation Interest rate CPI Policy RBA Economy

Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-09-25 @ 10:06:00 (2 days ago)

News Timezone: GMT +8:00

News Source URL: thestar.com.my

Language: English

Article Length: 463 words

Reading Time: 3 minutes read

Sentences: 19 lines

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Copyright Owner: © The Star

News ID: 22701785

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