Opinion
Why the RBA will ignore lower inflation
While Treasurer Jim Chalmers will welcome Wednesday’s lower inflation number, the RBA won’t be fooled by the temporary and artificial effect of energy subsidies.
John KehoeEconomics editorThe lower monthly inflation print on Wednesday will be largely ignored by the Reserve Bank of Australia.
Annual headline inflation fell to 3.5 per cent in July, from 3.8 per cent in June, according to the monthly consumer price index indicator. While Treasurer Jim Chalmers welcomed the moderation in price rises and took some credit for it, the RBA won’t be fooled by the lower number.
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