Inflation

The annual inflation figure is the same as the last month, which was the lowest inflation rate since July 2021.

Prices rose by 2.8% in the year to September 2024, according to new figures from the Australian Bureau of Statistics (ABS).

Inflation fell to 2.7% in August 2024, down from 2.5% in July, and the lowest monthly inflation figure since August 2021.

The Reserve Bank has left interest rates on hold at 4.35%, a move that had been largely expected as the Government faces calls to intervene.

The Greens are calling on Treasurer Jim Chalmers to lower interest rates, a move that’s never been done, but could the Treasurer do it?

The US central bank has dropped interest rates, citing declining inflation and a weak jobs market as key reasons for its decision.

The inflation of fruit and vegetables saw one of the biggest increases in July 2024, at 7.5%, compared to 3.6% in June.

According to the ABS, housing saw one of the biggest inflation increases in the year to June 2024 (up 5.2%).

The global economic institution, the IMF, has predicted inflation and interest rates will remain high in the coming year.

What is inflation? Prices have rose by 4% in the 12 months to May, data from the Australian Bureau of Statistics have found.

The Reserve Bank of Australia (RBA) has set the cash rate for June 2024 at 4.35%. For comparison, it was 0.10% at the start of 2022.

The federal budget has forecast inflation to dip below 3% by the end of this year.

HECs debt could increase 4.8% based on the way it is currently calculated, unless the Federal Government changes indexation methods.

Prices have risen by 3.6% in the year to March 2024, slightly higher than economists’ expectations of softer inflation.

Inflation (rising prices) has held steady month-on-month, with prices rising by 3.4% in February matching the inflation figures from January.

The Prime Minister has called Labor MPs back to Canberra from their summer break early for urgent cost of living talks.

What is the cash rate? The Reserve Bank chose to leave the cash rate unchanged on Tuesday – the last meeting of 2023.

Australia’s supermarket giants, Coles and Woolworths, will face questions about whether they’re overcharging during a cost of living crisis.

The 13th interest rate increase since May 2022 has re-ignited the debate about the use of higher interest rates to fight inflation.

Why did the cash rate rise? The Reserve Bank decided to raise the cash rate again on Tuesday, after keeping it unchanged since July.

Prices were 5.4% higher in September than the previous year, according to the latest official inflation figures.

In his final speech, RBA Governor Philip Lowe has criticised the media for personal attacks but admitted he had “difficulties” communicating.

Inflation grew by 4.9% in the year up to July 2023, according to the latest figures from the Australian Bureau of Statistics.

Petrol prices are rising again across Australia, and have been well above $2.10 litre in recent days in Sydney and Melbourne. Why?

RBA Governor Philip Lowe will not be re-appointed for a second term, replaced instead by his deputy Michele Bullock.

RBA Governor Philip Lowe has announced a cut to interest rate meetings after a review into the bank’s culture and practices.

The RBA has left interest rates unchanged at 4.1% for the month of July, with RBA Governor Philip Lowe saying inflation has “passed its peak”.

The latest monthly figures show inflation in Australia has fallen from 7.4% to 6.8%, but that’s still a significant rise. What does it mean?