An opinion piece from David Uren in The Australian:

  • Australia’s inflation rate should be falling, not rising
  • Wage increases have averaged only 2.7% in the past year – the slowest rate since reliable measuring began 16 years ago
  • household spending is increasing at barely half its normal rate while more is being salted away in savings

remains worried about how the Australian economy will handle the downturn in resource construction work as projects are completed while Australia would be affected more than almost any other country by a downturn in China, which some economists fear. Yet the RBA would not feel able to cut rates further to support the economy while inflation is running at its current level. The Bank of England has tolerated inflation far above its target for much of the past five years, but the RBA believes this would compromise the credibility of its inflation-targeting regime.

More at: Nation keeps paying more for everything

(it is gated, but doing a Google search of the headline should make it accessible)

ps. – plenty of data due from Australia today