Australia's headline inflation rate falls back into target range

Falling fuel prices helped to lower inflation. (Image: Supplied)

Thu, 26 Sep 2024

By James Glynn Australia’s headline inflation rate fell in August to within the Reserve Bank of Australia’s target band for the first time since 2021, but economists warn this won’t trigger an immediate interest-rate cut.Consumer prices rose 2.7% in the year to August, down from 3.5% in the year to July, the Australian Bureau of Statistics said. The result was in line with market expectations.Inflation has been above the target of 2% to 3% since August 2021 when prices surged globally as the world recovered quickly...

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