{"id":5418,"date":"2023-04-01T18:56:28","date_gmt":"2023-04-01T18:56:28","guid":{"rendered":"https:\/\/londonpost.news\/?p=5418"},"modified":"2023-04-01T18:57:04","modified_gmt":"2023-04-01T18:57:04","slug":"australias-pm-says-inflation-is-pleasing-amid-pressure-on-cost-of-living","status":"publish","type":"post","link":"https:\/\/brusselsindependent.com\/en\/politics\/australias-pm-says-inflation-is-pleasing-amid-pressure-on-cost-of-living\/2023\/04\/01\/admin1\/","title":{"rendered":"Australia’s PM says inflation is ‘pleasing’ amid pressure on cost of living"},"content":{"rendered":"

SYDNEY<\/span> (Reuters)<\/span> By Dr Majid Khan–<\/span> Prime<\/span> Minister<\/span> Anthony<\/span> Albanese<\/span> said<\/span> on<\/span> Saturday<\/span> he<\/span> was<\/span> pleased<\/span> with<\/span> Australia’s<\/span> low<\/span> inflation<\/span> but<\/span> warned<\/span> that<\/span> pressure<\/span> on<\/span> the<\/span> cost<\/span> of<\/span> living<\/span> across<\/span> the<\/span> country<\/span> remained.<\/span>
\n<\/span>
\n<\/span>Data<\/span> this<\/span> week<\/span> showed<\/span> Australian<\/span> inflation<\/span> slowed<\/span> to<\/span> its<\/span> lowest<\/span> level<\/span> in<\/span> eight<\/span> months<\/span> in<\/span> February.<\/span> This<\/span> is<\/span> partly<\/span> due<\/span> to<\/span> falling<\/span> prices<\/span> for<\/span> holiday<\/span> travel<\/span> and<\/span> accommodation,<\/span> and<\/span> signals<\/span> the<\/span> Reserve<\/span> Bank<\/span> of<\/span> Australia<\/span> (RBA)<\/span> should<\/span> pause<\/span> its<\/span> cycle<\/span> of<\/span> rate<\/span> hikes.<\/span> It<\/span> will<\/span> meet<\/span> on<\/span> Tuesday.<\/span>
\n<\/span>
\n<\/span>“The<\/span> results<\/span> are<\/span> promising<\/span> and<\/span> this<\/span> week’s<\/span> numbers<\/span> are<\/span> heading<\/span> in<\/span> the<\/span> right<\/span> direction,<\/span> but<\/span> we<\/span> know<\/span> there<\/span> is<\/span> pressure<\/span> on<\/span> the<\/span> cost<\/span> of<\/span> living,”<\/span> Albanese<\/span> told<\/span> reporters<\/span> in<\/span> Melbourne.<\/span>
\n<\/span>
\n<\/span>Inflation<\/span> remains<\/span> a<\/span> “real<\/span> problem”<\/span> and<\/span> a<\/span> “global<\/span> phenomenon”,<\/span> he<\/span> said,<\/span> campaigning<\/span> alongside<\/span> the<\/span> Labor<\/span> candidate<\/span> in<\/span> Aston,<\/span> Victoria,<\/span> where<\/span> the<\/span> by-election<\/span> was<\/span> held.<\/span>
\n<\/span>
\n<\/span>The<\/span> monthly<\/span> consumer<\/span> price<\/span> index<\/span> (CPI)<\/span> rose<\/span> 6.8%<\/span> in<\/span> his<\/span> year<\/span> to<\/span> February,<\/span> the<\/span> lowest<\/span> rise<\/span> since<\/span> June,<\/span> according<\/span> to<\/span> the<\/span> latest<\/span> Australian<\/span> Bureau<\/span> of<\/span> Statistics<\/span> data<\/span> released<\/span> on<\/span> Wednesday.<\/span> .<\/span> This<\/span> compares<\/span> with<\/span> the<\/span> previous<\/span> month’s<\/span> 7.4%<\/span> and<\/span> his<\/span> 7.1%<\/span> in<\/span> market<\/span> forecasts.<\/span>
\n<\/span>
\n<\/span>Investors<\/span> said<\/span> the<\/span> data<\/span> prompted<\/span> him<\/span> to<\/span> cut<\/span> the<\/span> chances<\/span> of<\/span> the<\/span> RBA<\/span> raising<\/span> 25<\/span> basis<\/span> points<\/span> at<\/span> the<\/span> next<\/span> policy<\/span> meeting<\/span> to<\/span> just<\/span> 5%,<\/span> down<\/span> from<\/span> 15%<\/span> previously.<\/span> RBA<\/span> Governor<\/span> Philip<\/span> Lowe<\/span> earlier<\/span> said<\/span> the<\/span> central<\/span> bank<\/span> was<\/span> close<\/span> to<\/span> pausing<\/span> rate<\/span> hikes<\/span> as<\/span> monetary<\/span> policy<\/span> is<\/span> now<\/span> in<\/span> the<\/span> hawkish<\/span> zone,<\/span> which<\/span> could<\/span> come<\/span> as<\/span> early<\/span> as<\/span> April.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

SYDNEY (Reuters) By Dr Majid Khan– Prime Minister Anthony Albanese said on Saturday he was pleased with Australia’s low inflation but warned that pressure on the cost of living across the country remained. Data this week showed Australian inflation slowed to its lowest level in eight months in February. This is partly due to falling […]<\/p>\n","protected":false},"author":2,"featured_media":5268,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"tdm_status":"","tdm_grid_status":""},"categories":[280,562,1566],"tags":[3032,3145,3033,3146,3131,3132,3133,3134,3135,3136,3137,3138,3139,3140,3141,1613,3142,2930,3143,2937,3144],"jetpack_featured_media_url":"https:\/\/brusselsindependent.com\/wp-content\/uploads\/2023\/03\/ast.jpg","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/5418"}],"collection":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/comments?post=5418"}],"version-history":[{"count":3,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/5418\/revisions"}],"predecessor-version":[{"id":5421,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/posts\/5418\/revisions\/5421"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/media\/5268"}],"wp:attachment":[{"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/media?parent=5418"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/categories?post=5418"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/brusselsindependent.com\/en\/wp-json\/wp\/v2\/tags?post=5418"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}