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Inflation falls to 6.8%

By March 30, 2023No Comments

Home owners and buyers alike will be pleased to hear the inflation rate has fallen for the second consecutive month.

After inflation peaked at a year-on-year rate of 8.4% in December, it fell to 7.4% in January and – according to new data from the Australian Bureau of Statistics – 6.8% in February.

The reason the Reserve Bank of Australia has raised the cash rate at 10 consecutive monetary policy meetings has been to cool the economy and tame inflation.

The sooner the RBA believes inflation has been controlled, the sooner it will stop raising the cash rate. Once that happens, lenders are likely to stop raising their home loan rates. Inflation is measured by the consumer price index, or CPI

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