Australia’s easing inflation rate a boost for mortgage holders eyeing next rate cut – and Labor’s election hopes

The headline inflation rate was 2.4% in the 12 months to February, a slight decrease on the previous month’s figure. Photograph: Dan Himbrechts/AAP

Australia’s inflation rate has eased again, in data that will buoy Labor heading into an election and raise hopes for mortgage holders another interest rate cut is not far off.

The headline inflation rate was 2.4% in the 12 months to February, a slight decrease on the previous month’s figure, according to consumer price index figures released on Wednesday.