Australia 101 Blog

Susan Wareham
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Inflation Drops

Wed, 28 Jan, 2009

News Photo - Inflation Drops

Australia's December 08 quarter CPI figures are the weakest since 1997.

The good news is this may result in the Reserve Bank of Australia cutting interest rates again. The RBA cut 3 percentage points from the interest rate in the final four months of 2008, lowering the rate to 4.25%.

The bad news is the cost of living doesn't seem set to decrease any time soon. The CPI drop was driven primarily by a large drop in petrol prices but was offset by an 8 per cent increase in the price of fruit.

For more information visit
and the Australian Bureau of Statistics.

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