-
Tame Australia inflation to keep interest rates steady
A leading private sector survey has revealed that while consumer prices edged slightly higher in July, the annual rate of inflation remained below the Reserve Bank's comfort zone. The TD Securities - Melbourne Institute Monthly Inflation Gauge rose by 0.2 per cent in July, following an increase of 0.1 per cent in June. In the year to July, the Inflation Gauge increased by 1.6 per cent. That represents its highest annual rate since November last year and falls short of the RBA's target range for inflation of 2 to 3 per cent. The main contributors were a 3.3 per cent increase for property rates and charges, a 5.5 per ... (full story)