25 Jan 2024

High rents and rates keeps inflation above target levels

From Morning Report, 7:40 am on 25 January 2024

While the rate of inflation is easing, higher rents, rates and building costs are keeping it above target levels.

New data shows the annual rate of inflation eased to 4.7 percent from 5.6 percent in the final quarter of last year.

But that's still higher than the Reserve's Bank's target of a 1-to-3 percent average increase.

Soumya Bhamidipati reports.