Inflation data unlikely to move the rate cut dial

Inflation data unlikely to move the rate cut dial
Fruit and vegetable prices fell 13.3% in the year to March. (Image: Tania Whyte)
Rebecca Howard
Data Wednesday is tipped to show that inflation has continued to ease but still not enough to move the dial on rate cuts. Westpac Bank expects consumer prices will rise by 0.8% in the March quarter when compared with the final three months of last year. That would drop the annual inflation rate to 4.2%, down from 4.7% at the end of 2023. The central bank is mandated to keep inflation between 1% and 3%, with a focus on the midpoint. The data will show inflation has eased “but not as quickly as the Reserve Bank had assum...

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