Australian consumer price inflation slowed to a three-year low in August thanks to government rebates on electricity and a drop in petrol, while core inflation hit its lowest level since early 2022 in a sign costs were cooling.

Australia’s headline inflation rate fell within the Reserve Bank of Australia’s target band for the first time since 2021 in August, but economists warn that this won’t trigger an immediate interest-rate cut.

Headline inflation has fallen into the Reserve Bank's 2 to 3 per cent target for the first time in three years. Here's why it won't mean an early rate cut.

Australia's central bank on Tuesday held interest rates steady as expected and reiterated that policy needed to stay tight, sticking to its guns a week after the Federal Reserve started its easing campaign with a bang.

The Reserve Bank of Australia kept interest rates steady, deepening a split with global counterparts including the Federal Reserve that are loosening policy as they grow increasingly confident that inflation is under control.