2024 Inflation Rate Forecast Australia. Annual cpi inflation was 3.6 per cent in the march 2024 quarter, lower than the 4.1 per cent annual rise in the previous quarter. The monthly consumer price index (cpi) indicator rose 3.6 per cent in the 12 months to april 2024, according to the latest data from the australian bureau of statistics.
Based on our central forecast, we expect it to return to the target range in 2025, and to the midpoint in 2026 (graph 2). Australia’s big banks are forecasting that the rba will keep the national cash rate on hold in december 2024, with a cash rate cut unlikely to occur until early to mid 2025.
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