Speaking of inflation…. DJ RBA Raises Near-Term Inflation Forecasts
Dow Jones - Updated 7 hours ago
SYDNEY—The Reserve Bank of Australia has sharply raised its near-term forecasts for inflation, but said it still remains confident that both headline and core measures of inflation will still return to target by late 2025.
The central bank on Tuesday forecast consumer price inflation at 3.8% on year by the end of 2024, up from a 3.2% forecast in February. It also lifted its forecast for trimmed mean inflation to 3.4% on year by the end of 2024, up from a February forecast of 3.1%.
Still, both measures of inflation are projected to fall back to 2.8% on year by late 2025, putting them within the desired target band of 2% to 3%, the RBA said in its May statement on monetary policy.
I think generally there is not much will to bring inflation down.