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The Guardian - AU

Business

Peter Hannam Economics correspondent

Inflation remains flat at 3.4% in January, fuelling hopes of RBA interest rate cut

RBA Inflation Reserve Bank

Shoppers in Sydney. Inflation has … — Shoppers in Sydney. Inflation has … Photograph: James D Morgan/Getty Images for Westfield

Inflation remained flat in January at a two-year low, helped by falling prices for meat and seafood, stoking hopes the Reserve Bank may bring forward interest rate cuts.

The consumer price index in January was 3.4%, the Australian Bureau of Statistics said on Wednesday. Economists predicted CPI would increase to 3.6% from December’s 3.4%.

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