Economists say there's some good news in store for consumers in the June quarter inflation data, which will be released later today.
The new inflation data will be a key metric used to determine next week's decision on interest rates.
They say that means some good news for cost-of-living relief, but the extent of that will be limited.Economists are anticipating the annual inflation rate to drop to about 6 per cent, compared to 7 per cent in the March quarter. The Reserve Bank is forecasting the 3 per cent inflation figure will be reached by mid-2025, after first falling to 4.5 per cent in December this year.Housing and groceries experienced the highest price rises in the March quarter inflation data.
Senior economist Cassandra Winzar at the Committee for Economic Development of Australia says there is likely to be a drop in grocery prices in the June quarter CPI data.READ MORE"Some of that is due to supply chain pressures that have now since improved, whether that was impacted by the floods or different weather events late last year and earlier this year.
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