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AU inflation steady in January, below economist expectations of a bounce
Consumer prices rose 3.4 per cent over the year to January, steady at the same annual rate of inflation as in December. That is the equal lowest pace of annual inflation recorded in the monthly Consumer Price Index (CPI) indicator from the Australian Bureau of Statistics (ABS) since November 2021. Economists had generally been expecting inflation to re-accelerate slightly in January to 3.6 per cent. "Today's CPI release should be broadly reassuring to the RBA and, on balance, reduces the risk it might consider yet another rate increase in coming months," wrote Betashares chief economist David Bassanese. The bureau's ... (full story)