When did Australia’s inflation get so sticky?

The data indicates that the ‘last mile’ for the RBA is proving the hardest, as headline and core inflation remain sticky, writes Brendan Rynne.

The latest consumer price index (CPI) release shows inflation in April 2024 climbing to 3.6 percent annually - higher than the consensus forecast of 3.4 percent. The Reserve Bank of Australia’s (RBA) favoured measure, the annual trimmed mean inflation, which excludes volatile items from the monthly CPI indicator, also slightly increased from 4.0 percent to 4.1 percent. The most significant contributors to the annual increase in April were Housing (+4.9 percent), Food and non-alcoholic bever...

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Authors: Brendan Rynne

Published Date: 30 May 2024