The West Australian
New data from the Australian Bureau of Statistics shows that inflation has failed to drop in the month of October in a sign that prices are yet to come under control.
The headline figure of 2.1 per cent is broadly in line with economist forecasts but the more important trimmed mean, which excludes one off items has ticked up to 3.5 per cent from 3.2 per cent.
Inflation has been the key concern of Australia’s Reserve Bank in determining when to cut rates, with the latest minutes from the November meeting showing that the Board was concerned that underlying inflation had still remained too persistent over the year to give them comfort.