Inflation 2024 Australia. Cba expected the rba to start cutting interest rates in december and lower its official cash rate target by a total of 1.25 percentage points to 3.1 per cent by end the. At its february 2024 meeting, the reserve bank board decided to leave the cash rate target unchanged at 4.35 per cent.

Australia inflation rate for 2022 was 6.59%, a 3.73% increase from 2021. The consumer price index (cpi) is a quarterly measure of inflation published by the australian bureau of statistics (abs).