Sky News Business Reporter Edward Boyed says the latest inflation for June from 6.3 to six.7 per cent by the Reserve Bank of Australia is “not good news for the Australian economy”.
“The Reserve Bank Statement of Monetary Policy today has released some new economic forecasts and they previously had headline inflation at 6.3 per cent in the June quarter,” Mr Boyd stated.
“They’ve now increased that to 6.7 per cent.
“That basically means with inflation in December last year at 7.8 per cent, they’re only expecting inflation to fall by roughly 1.1 per cent over a six-month period.”
Source: www.news.com.au
