Australia’s inflation rate has fallen from its 30-year high of 7.8% in the December quarter of 2022 to 7.0% in the March quarter of 2023. But it’s still likely the Reserve Bank of Australia will push up interest rates again before the end of the year to drive inflation back to its target range.
Contributing to the lower growth in the Consumer Price Index in the first three months of 2023 were lower costs for furniture, appliances and clothing.
