Beware of fraudulent websites impersonating us. Verify website URLs and legal entity details. Avoid unsolicited emails and report suspicious activity.
Your safety is paramount. Thank you for your attention and cooperation. See more details
Australian inflation pressures eased in July, with government rebates helping to counteract rising electricity costs and rents. The monthly consumer price index (CPI) rose by 3.5% in the 12 months to July 2024, down from 3.8% in June, according to the Australian Bureau of Statistics. This decrease marks a welcome shift but is primarily driven by temporary government payments.
The Reserve Bank of Australia (RBA) is likely to view this data favorably, though it may not yet signal a change in its cautious approach. RBA Governor Michele Bullock recently emphasized that interest-rate cuts remain off the table due to lingering concerns over inflationary pressures, particularly in core inflation, which continues to exceed the central bank’s target.
Economists suggest that the headlines of falling inflation could help lower inflation expectations, which play a crucial role in wage agreements. Moreover, annual payments linked to the CPI may see adjustments, reflecting the recent trends in inflation.
A significant factor in the easing of inflation was the decline in electricity prices, which fell by 5.1% in the year to July, down from a 7.5% increase in June. This reduction was largely due to federal government rebates introduced in May, aimed at alleviating the cost of living pressures.
Despite the overall moderation in inflation, housing costs, particularly rents, continue to rise, highlighting ongoing challenges in the rental market across Australia’s capital cities. As the government and RBA monitor these developments, the trajectory of inflation and economic policy will remain a critical focus in the months ahead.
This website is published by Fortune Prime
The information provided on this website is intended for general informational purposes only and does not constitute financial or investment advice. The content on this website is not tailored to the specific circumstances or investment objectives of any individual or entity.
Please be aware that the products mentioned on this website, including Over the Counter (OTC) foreign exchange contract and derivative products carries a high level of risk which may not be suitable for everyone, that may result in the loss of your investment. We strongly recommend seeking professional advice or conducting thorough research before making any investment decisions or engaging in derivative product trading.
This website may provide links to external websites or third-party content for your convenience. However, we do not endorse or take responsibility for the accuracy, completeness, or reliability of any information, products, or services offered by these external sources.
By using this website, you acknowledge that you have read, understood, and agreed to the terms of this disclaimer. If you have any questions or concerns, please contact us for further clarification.
Please note that this disclaimer applies specifically to non-Australian products. If you are located in Australia, different regulations and disclosures may apply.
The availability, terms, and conditions of these products may vary depending on your jurisdiction.
The services listed on this website are not available to residents of the USA, Japan, Ukraine, Indonesia, New Zealand, Australia, and North Korea.
Fortune Prime Limited is authorised and regulated by the Vanuatu Financial Services Commission (VFSC), number 700507.
Registered address: 1276 Govant Building, Kumul Highway, Port Vila, Vanuatu.
Business (physical) address: Suite 5, 18-20 Prospect St, Box Hill VIC 3128 Australia.
Financial Services Guide | Privacy Policy | Product Disclosure Statement | Terms & Conditions
This website is published by Fortune Prime Limited.
Investing in Over the Counter (OTC) foreign exchange and derivative products carries a high level of risk and is not suitable for all investors. You do not own, or have, any interest in the underlying assets. We encourage you to consider your investment objectives, your risk tolerance, and trading experience and seek independent financial or tax advisor advice or conducting thorough research before trading. You could lose substantially more than your initial investment so do not invest money you cannot afford to lose. We only provide general advice which does not consider your financial objectives or personal circumstances. The content of this website should not be interpreted as personal advice.
Customers registered on this website will open under Fortune Prime Limited, which is incorporated in Vanuatu with a financial license number 700507 and is regulated by the Vanuatu Financial Services Commission (VFSC).
The Fortune Prime Group of companies is authorized and regulated in various jurisdictions.
Fortune Prime Limited trading as Fortune Prime Global, is authorised and regulated by the Vanuatu Financial Services Commission (VFSC), number 700507 and is Registered address: 1276, Govant Building, Kumul Highway, Port Vila, Vanuatu.
Financial Services Guide | Privacy Policy | Product Disclosure Statement | Terms & Conditions
Please add the WeChat FPG_01, or scan the QR code.
