RBA’s Hunter says inflation in Australia is the biggest drag on household consumption

Reserve Bank of Australia Assistant Governor (Economics) Sarah Hunter:

  • Q4 GDP largely in line with forecasts
  • Recent inflation data also consistent with forecasts
  • Inflation the biggest drag on household consumption ( “For some households, interest rate hikes are also challenging and difficult but inflation is the single biggest drag.”)
  • Households are clearly struggling at present

Speaking on a panel at the AFR Business Summit.

Where inflation and the cash rate currently sit.

This article was written by Eamonn Sheridan at www.forexlive.com. Source