Rate cut likely as underlying inflation falls within RBA target range

Headline inflation – which includes the impact of government cost-of-living policies such as rebates – held steady at 2.4% in the year to March

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A Reserve Bank rate cut on 20 May appears locked in as new data shows the key measure of underlying inflation has dropped below 3% for the first time in three years.

Headline inflation – which includes the impact of government cost-of-living policies such as rebates – held steady at 2.4% in the year to March, the Australian Bureau of Statistics figures show.

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