Calm before storm: RBA braces for spikes and hikes
A SLIGHT easing in Australia’s headline inflation rate before the Iran war will do little to ease the Reserve Bank’s fears, as economists expect price growth to bounce back with a vengeance in March. Consumer prices rose 3.7 per cent in the 12 months to February, down from 3.8 per cent in January, data from the Australian Bureau of Statistics showed on Wednesday. Trimmed mean inflation – which excludes volatile items to provide a sense of underlying inflation – held steady at 3.3 per cent. The result came in slightly softer than economists’ expectations.