Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut
by Peter Hannam Economics correspondent from World news | The Guardian on (#6JYH6)
The Reserve Bank is betting on CPI returning to within its target range of 2%-3% by next year
Inflation remained flat in January at a two-year low, helped by falling prices for meat and seafood, stoking hopes the Reserve Bank may bring forward interest rate cuts.
The consumer price index in January was 3.4%, the Australian Bureau of Statistics said on Wednesday. Economists predicted CPI would increase to 3.6% from December's 3.4%.
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