Underlying inflation surges above RBA target range
Underlying inflation has surged to 3.6%, its highest level since September 2024, well above the Reserve Bank of Australia's target range of 2-3%. While headline inflation dropped to 4% in the 12 months to May due to fuel excise cuts, the underlying figure watched by the RBA shows concerning trends for interest rate decisions. The opposition has launched personal attacks against the Prime Minister and Housing Minister over property investments following government tax reforms, while Treasurer Jim Chalmers addresses concerns about a housing market correction.See omnystudio.com/listener for…
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