RBA does not see inflation pick-up as threat to target
Central bank publishes minutes from latest board meeting
The Reserve Bank of Australia expects annual CPI inflation to remain "consistent" with the central bank's target of between 2% and 3% despite recent increases, according to the minutes from the latest board meeting, released today.
The latest figures show that annual CPI inflation rose to 3% in June – its highest level since December 2011 – which the board members conceded was "a little higher than expected".
They attributed "much of the increase" over the past year to the increase in the price
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