Inflation figures set to trigger RBA cut
Released this week, Consumer Price Index (CPI) data from the Australian Bureau of Statistics (ABS) revealed consumer prices climbed just 0.4% over the June quarter and 1% in the 12 months to June.
John Flavell, chief executive of Mortgage Choice, said the inflation readings, which are at historic lows, would provide the RBA with the incentive it needs to cut the cash rate at its board meeting on Tuesday.
“While these results were largely in line with market expectations, the yearly rise of 1.0% is incredibly low by historical standards,” Flavell said.
