Australia's inflation is set to peak at around 8 percent this year, driven by the pass-through cost pressures and higher food prices, the Reserve Bank of Australia said in its quarterly statement on monetary policy, released Friday.
Inflation is expected to peak at around 8 percent at the end of 2022, before starting to ease early next year, the bank noted. The rate was expected to peak at 7.75 percent in the August Statement.
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May 22, 2026 14:46 ET Minutes of the latest Fed policy session was the highlight of the week along with survey data on the U.S. housing market. In Europe, survey data signaled the trends in the euro area private sector. Further, consumer price inflation data from the U.K. was in focus. In Asia, various economic indicators from China drew attention to the health of the economy.