We are resending this publication because we have adjusted our forecast for the monthly CPI indicator due next week.
The minutes of the RBA's August meeting revealed that the Bank remains concerned about elevated capacity pressures in the economy. But while it is true that growth in public demand remains robust, that strength is being offset to a significant degree by lacklustre private demand. As a result, survey data remain consistent with a marked slowdown in underlying inflation in the months ahead.
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