Consumer Price Index Update: February
The monthly Consumer Price Index (CPI) indicator figures have been released by the Australian Bureau of Statistics (ABS) for the month of February this morning.
The monthly CPI indicator rose 3.4% in the 12 months to February 2024, with Michelle Marquardt, ABS Head of Prices Statistics stating that:
"Annual inflation was unchanged in February and has been 3.4 per cent for three consecutive months”.
The most significant contributors to the February annual increase were Housing (+4.6 per cent), Food and non-alcoholic beverages (+3.6 per cent), Alcohol and tobacco (+6.1 per cent) and Insurance and financial services (+8.4 per cent).
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JC7577 : I feel it's in line with expectations
CyberMongrel : Same figure for 3 months. Does this mean it will be very hard to further reduce inflation to under 3%
Griffo_au : inflation has come down to near target despite this record migration?
Wealthy Leio : That's actually what I expected.
Lysander : Rate cuts aren't going to happen at this rate。
Liam Mitchell : You insure structures, not land. A significant amount of the speculative cost of property is in the latter.