Latest Inflation Figures Released
According to the Australian Bureau of Statistics the inflation rate in Perth decreased from 2.9% in the December quarter 2011 to 1.9% for the March quarter 2012. This figure is the 2nd highest among Australian Capital cities but a good figure considering rents rose 5% for the quarter and 10.5% for the year.
Overall the Australian annual figure is 2.2% which is well in the Reserve Bank of Australia key band of 2-3% which should hopefully lead to future interest rate cuts.
More Interest Rate Cuts?
With the RBA finally dropping interest rates in November, there is now talk that they will look to drop them again in December. The economy is still struggling (except for the mining sector) and inflation is inside their target 2-3% band. The RBA might look at cutting them in December as there is not meeting in January. There is also talk that the rates might be cut by more than 0.25% with the cut possibly being 0.5%.
What does everyone think about the possibility of a rate cut in December?
Latest Inflation Figures Released
The latest inflation figures for September have been release. This showed that Perth along with Darwin had the lowest inflation rates in the company with Perth’s CPI (consumer price index) falling from 3% in June quarter to 2.8%. The national average is 3.5%.
