Australia's annual inflation rate rose to 3.5 per cent in the 12 months ended July, which was a little hotter than expected but down from 3.8 per cent in June.
Despite the Reserve Bank saying public demand had risen, Anthony Albanese says government spending is not the sole reason for interest rates staying put.
Australia's inflation rate has clocked its first annual increase in 18 months but borrowers can breath easy as it was unlikely to trigger another rate hike.
Australia's annual inflation rate climbed back to four per cent in May, overshooting expectations and raising the chance of another interest rate hike.
Inflation cooled to 4.3 per cent over the 12 months to November, down from the 4.9 per cent growth recorded by the Australian Bureau of Statistics in October.
Consumer price figures will be hotly anticipated as decision-makers seek to confirm whether inflation is falling fast enough to keep interest rates on hold.
Economic output and similar markers aren't the best measures of wellbeing but momentum is growing to tackle issues that fall between the pages of the budget.
Inflation might be coming off its highs, but workers' wages are still falling well behind rising prices as mortgage holders face the prospect of another interest rate rise.
The global economy is suffering the lowest growth rate in almost two decades and casting a shadow over the upcoming federal budget, the treasurer warns.
The minutes from the Reserve Bank of Australia's last board meeting will offer some context for the last cash rate decision and, hopefully for borrowers, further signs the bank is readying for a pause.Â
