SYDNEY: A top Australian central banker says that a slowdown in consumer price inflation for November was “helpful”, but largely as expected and inflation is still too high.
In an interview with the Australian Broadcasting Corp (ABC) yesterday, Reserve Bank of Australia (RBA) deputy governor Andrew Hauser was asked about data released on Wednesday showing annual consumer price index (CPI) inflation slowed to 3.4% in November, from 3.8% the previous month.
“Most of those numbers were broadly in line with our expectations,” Hauser said, according to the ABC report.
“Inflation above 3% – let’s be clear, it’s too high,” he added. “We wish to keep inflation between 2% and 3%, that is currently above that.”
The central bank’s target is to keep inflation between 2% and 3% over the long run, with a focus on 2.5%. — Reuters
