RBA decision looms as inflation figures revealedInflation still remains above expected levels which could signal rate rises to bring it further under control.2 min read

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Australia’s inflation rate has dropped to its lowest level in eight months but the big picture is far from rosy.The Australian Bureau of Statistics on Wednesday revealed the consumer price index rose ...

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Credit: Darren England, James Ross/AAPABS head of price statistics Rachel McCririck said the cost of housing and fuel were contributing to inflation remaining high.“New dwellings prices rose 5.7 per cent in the 12 months to July as builders passed on higher costs for materials and labour,” she said.Fuel prices rose 7.5 per cent in the past month, having fallen over the three months prior, which McCririck said was “driven by higher world oil prices and the partial unwinding of the federal government’s fuel excise”.Food and non-alcoholic beverages were also strong contributors, rising 3.2 per cent, as well as recreation and culture, which rose 2.6 per cent.Minutes from the RBA’s August board meeting, released on Tuesday, showed the board was concerned about upside risks to inflation.— with AAPAFP condemned after innocent Indigenous teen targeted at gunpoint4 min readWhat happened when Dolly thought she wasn’t ‘rock’ enough for the Hall of Fame2 min read","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":false,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"isVideo":false,"video":null,"symbols":[],"gpt_button":0,"need_auth":false,"need_login_tip":false,"code":"91000000","status":"200"}}}