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Underlying inflation has slipped below 6%, but is the slide enough to stop the RBA pushing up rates further?

Written by John Hawkins, Senior Lecturer, Canberra School of Politics, Economics and Society, University of Canberra

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Australia’s inflation rate has fallen for the second consecutive quarter.

After reaching a 30-year high of 7.8% at the end of 2022, annual inflation as measured by the Bureau of Statistics’ quarterly Consumer Price Index slid to 7% in the March quarter of 2023, and fell further to 6% in the June quarter.

The quarterly results...

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