{"id":2016218,"date":"2023-08-29T23:27:03","date_gmt":"2023-08-30T03:27:03","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/australian-inflation-slows-more-than-forecast-fuelling-bets-hikes-are-over\/"},"modified":"2023-08-29T23:28:04","modified_gmt":"2023-08-30T03:28:04","slug":"australian-inflation-slows-more-than-forecast-fuelling-bets-hikes-are-over","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/australian-inflation-slows-more-than-forecast-fuelling-bets-hikes-are-over\/","title":{"rendered":"Australian inflation slows more than expected, raising doubts about further interest rate hikes."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">26<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Faustralian-inflation-slows-more-than-forecast-fuelling-bets-hikes-are-over%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=2016218&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><div class=\"entry-content\">\n<p><h2>Australia&#8217;s Inflation Slows \u2064to 17-Month Low<\/h2>\n<\/p>\n<p><h3>Good\u2064 news for consumers and\u200c interest rates<\/h3>\n<\/p>\n<p>The \u200blatest data from the Australian Bureau of\u200c Statistics reveals that Australia&#8217;s inflation \u200drate has slowed to a 17-month low in July. This is primarily due to decreases in holiday travel and fuel prices. The\u200b measure of core inflation has also cooled, indicating that interest rates may\u2064 not need \u2062to rise again.<\/p>\n<p>As a result, market analysts are \u200cnow predicting a 99.5% probability that \u2064the Reserve Bank of Australia will pause its rate hikes for a third consecutive month in \u200bSeptember. This is a positive sign for consumers, as inflation is easing\u200c as desired.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-1\" style=\"min-width: 320px; min-height: 50px;  text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-1'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>Furthermore, the\u2063 likelihood \u2064of\u2064 one \u200clast rate hike by the end of the year has been reduced to just 35%. This suggests that the Reserve Bank of \u200bAustralia is now largely finished with <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/biden-new-analysis-shows-my-multi-trillion-dollar-plans-will-reduce-inflation-reduce-inflation-reduce-inflation\/\" title=\"Biden: New Analysis Shows My Multi-Trillion Dollar Plans Will \u2018Reduce Inflation, Reduce Inflation, Reduce Inflation\u2019\">tightening monetary policy<\/a>.<\/p>\n<p>The <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/att-plunges-as-ceo-suggests-americans-cant-afford-to-pay-phone-bills\/\" title=\"AT&#038;T Plunges as CEO Suggests Americans Can\u2019t Afford to Pay Phone Bills\">monthly consumer price index<\/a> (CPI) rose\u200b by 4.9% in the year to July, \u2062which is lower than the previous month&#8217;s \u200b5.4% and market forecasts of 5.2%. However, there was a positive sign as CPI increased by 0.3% in July on a monthly basis, bringing the\u2064 three<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/australian-inflation-slows-more-than-forecast-fuelling-bets-hikes-are-over\/\" title=\"Australian inflation slows more than expected, raising doubts about further interest rate hikes.\">-month annualized rate back<\/a> within the RBA&#8217;s target band \u2063of 2-3%.<\/p>\n<p>Price increases for tradable goods \u2062also eased to 1.7% \u200cin July compared to the previous\u200b year, indicating that global disinflationary pressures are reaching Australia.<\/p>\n<p>Overall, this news has had an impact on the Australian dollar and bond futures, with the currency\u2063 slipping and futures \u200brallying.<\/p>\n<p><strong>Shane \u200bOliver<\/strong>, chief economist at AMP,\u200c commented, &#8220;So far, so good -\u2062 the inflation numbers are less than\u200c expected. Obviously, it&#8217;s partly helped by energy subsidies.&#8221; However, Oliver \u2063also noted that rent inflation and electricity prices are still areas of concern.<\/p>\n<p>The Reserve Bank of \u2064Australia has raised rates by 400 basis points since \u2064May last year, reaching an 11-year high of 4.1%. Incoming Governor Michele Bullock has warned that rates may need to rise again,\u200b but the current data suggests an extended pause may be more\u2063 likely.<\/p>\n<p>With retail sales showing overall softness, underwhelming wage gains, and \u200csigns of a cooling labor market, the RBA will be closely\u200d monitoring the situation. The\u2064 trimmed mean, a closely watched measure of core inflation, \u2063has\u200b also eased to\u200d 5.6% from 6.0%, \u200dindicating a positive trend.<\/p>\n<p>While the path ahead is still uncertain, the efforts to \u200bbring down inflation are showing progress. However, there is a lingering risk of recession. As Oliver \u200cat AMP stated, &#8220;We are still on the \u200dnarrow path \u200band we&#8217;re getting\u2062 inflation down &#8211; there is no doubt \u2063about that. The \u2062only uncertainty is whether we have gone too far and hit the recession, the risk is still \u200dhigh.&#8221;<\/p>\n<p>(Reporting by Stella Qiu and Wayne Cole; Editing by Muralikumar Anantharaman, Sam Holmes and Raju Gopalakrishnan)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/uncategorized\/australian-inflation-slows-more\/attachment\/an-employee-wears-a-protective-face-mask-while-ringing-up\/\"><\/a><\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>President Biden&#8217;s \u2063E-mails Raise Questions<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Idalia Approaches Florida, Controversy Surrounds Gadsden Flag<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Former President Trump to Face Trial in 2024<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Deadly Wildfire in Maui Raises Concerns<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>SEBA Bank Receives Approval-in-Principle in Hong Kong<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>OpenAI \u2063Predicted\u2063 to Generate Over $1 Billion in Revenue<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>British \u2062Officials Warn About AI-Driven Chatbots<\/h2>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p><h2>Privacy and Understanding\u2063 Key for Blockchain in Brazil<\/h2>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Australia&#8217;s inflation dropped to a 17-month low in July due to reduced holiday travel and fuel costs. Core inflation also decreased, suggesting that interest rates may not need to be increased. Consequently, markets now predict a 99.5% chance that the Reserve Bank of Australia will not raise rates.<\/p>\n","protected":false},"author":66,"featured_media":2016219,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2016218","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016218","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2016218"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2016218\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2016219"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2016218"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2016218"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2016218"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}