Australia’s Inflation Eases to 2.8 Percent Amid Falling Fuel and Power Costs

ABS data shows CPI inflation fell to 2.8 percent in September, down from 3.8 percent in June, driven by government rebates and lower fuel prices.

A woman shops in the fresh produce section of a supermarket in Albany, Western Australia, on Oct. 15, 2024. Susan Mortimer/The Epoch Times

Australia’s inflation rate has slowed to 2.8 percent, its lowest point since March 2021, returning to the Reserve Bank of Australia’s (RBA) target range for the first time in three years.

Data from the Australian Bureau of Statistics (ABS) showed that consumer price index (CPI) inflation dropped from 3.8 percent in June, a slowdown attributed to government-backed rebates and lower automotive fuel prices.