June CPI largely in line, no RBA move any time soon

Summary: Annual Inflation rate hits 3.7% in June quarter, just above market expectations; RBA preferred measure rises to 1.6%, in line with expected figure; transport costs (fuel) main driver of result.   In the early 1990s, high rates of inflation in Australia were reined in by the “recession we had to have” as it became known. Since then, underlying consumer price inflation has averaged around 2.4%, a little below the...

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