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Geelong Real Estate: Whitford Property News – 30th September 2024

Whitord – Geelong Property News: The inflation figure has fallen again which is a step in the right direction. The monthly CPI indicator was 3.5% in the 12 months to July 2024, falling from 3.8% in June, the second monthly drop in a row. This is the lowest result since March 2024. The most significant price rises were Housing (+4.0%), food and non-alcoholic beverages (+3.8%), alcohol and tobacco (+7.2%) and transport (+3.4%). 

Annual trimmed mean inflation, the RBA’s preferred measure, which smooths out the impact of temporary or irregular price changes, which was 3.8% in July, from 4.1% in June. While inflation is moving in the right direction, Governor Bullock has made it clear it is “premature to be thinking about rate cuts”. The RBA realises that electricity subsidies drove the fallback, excluding electricity, year on year inflation would have been stable.

John Moran

Director

 

*Potential impact of cash rate cuts if each of the big four banks' cash rate forecast is realised

Based on a $600,000 debt today with 25 years remaining

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