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.
Subscribe to continue reading the article.
This article is part of our premium content offering.Subscribe with a RTTNews subscription.
Subscribe NowAlready subscribed? Sign in
by Renju Jaya
For comments and feedback: contact editorial@rttnews.com