Australia's October inflation rate rises 0.3% monthly and 3.0% yearly, sparking RBA concerns.

The Melbourne Institute Inflation Gauge for October 2024 reported a monthly inflation increase of 0.3% and a yearly rise of 3.0%. This upward trend raises concerns for the Reserve Bank of Australia (RBA), although the gauge is not a conclusive measure of inflation. While analysts anticipate potential interest rate cuts in early 2024, the current cash rate remains at 4.35%, with no immediate changes expected in the upcoming RBA meetings.

November 03, 2024
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