Australia & New Zealand Economics

Australia & New Zealand Chart Book

29 November, 2018

Inflation set to fall sharply

The recent slump in crude oil prices means that the tailwind to consumer price inflation from soaring energy prices won’t be sustained. After boosting Australia’s headline inflation by 0.6 percentage points in the third quarter, automotive fuels may become a drag by the middle of next year. (See Chart 1.) Airfare prices may start to fall, too. However, we doubt that this will prompt either the Reserve Bank of Australia (RBA) or the Reserve Bank of New Zealand (RBNZ) to cut interest rates. Afte

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