The Australian Bureau of Statistics released the monthly inflation numbers for January, showing that inflation remained steady at 3.4%, the same annual rate as in December. This figure was lower than the expected 3.6%, with basket reweightings being a factor in the outcome. The steady inflation rate, previously at 3.4% and expected to rise to 3.6%, fuels hopes for the Reserve Bank of Australia (RBA) to consider cutting interest rates later this year, a move supported by the unchanged rate which was surprising to economists.
Australian inflation surprisingly remained steady in January, supporting the case for the Reserve Bank to begin cutting interest rates later this year https://t.co/HQvcnR9k1b
Australian inflation surprisingly remained steady in January, supporting the case for the Reserve Bank to begin cutting interest rates later this year https://t.co/xsX5lhPxrM via @economics
#BREAKING: Consumer prices rose 3.4 per cent over the year to January, steady at the same annual rate of inflation as in December. https://t.co/JVWg464Hux
Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut https://t.co/OeJ3mXPLFM
Inflation remains flat at 3.4% in January, fuelling hopes of interest rate cut https://t.co/10jysy60VI
(New from me): Inflation flat in January at 3.4% - lower than the market had expected: https://t.co/7myu4ARWMo
January CPI comes in at 3.4%. Economists had forecast it would rise to 3.6% from 3.4% in December. (Basket reweightings were a factor.) (Source: @ABSStats )
Heads Up:🇦🇺 Monthly CPI Indicator (Jan) due at 00:30 GMT (15min) Expected: 3.6% Previous: 3.4% https://t.co/LpFEJm1mEw
The monthly inflation numbers for January will be released today by the Australian Bureau of Statistics. https://t.co/qr9PczyvLe