The latest official data shows inflation slowed from 4.9 per cent over the year to October to 4.3 per cent over the year to November.
- The ABS monthly measure shows annual inflation dropped to 4.3 per cent in November
- The biggest contributors remained housing, especially rents, food and insurance premiums
- Analysts say the fall in inflation increases the chance of an RBA rate cut earlier in 2024, perhaps as soon as June
This data could be good news for those Australias with home loans, with many industry commentators predicting the RBA may be done with rate rises, and tipping a possible rate reduction later in 2024.
Summary of article from abc news (Australia) 10/1/2024