Consumer inflation slows to two-year low but risks remain
The outlook is vulnerable to new shocks including renewed uncertainty around Russia’s decision to end implementing the Black Sea Grain Initiative
23 August 2023 - 11:02
Consumer inflation fell even more in July, reaching the lowest level in two years, suggesting the Reserve Bank may leave rates unchanged at its next meeting.
At 4.7%, headline inflation is moving further within the Bank’s 3%-6% target range, where it is expected to remain as weaker domestic demand erodes companies’ pricing power and will make it more difficult for firms to pass on a range of price pressures to consumers...
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