‘A surprise we needed’: Monthly inflation remains steady at 3.4 per cent

Inflation has come in lower than expected, remaining steady at 3.4 per cent for the third consecutive month. “Yesterday was a surprise that we needed in terms of the outlook,” Independent analyst Evan Lucas told Sky News Australia. “Even if we had not got what the expectation was, which was 3.5 per cent … the trend on a three-month and four-month basis is still a decline at about 0.8 of one per cent per quarter. “That’s now back at 0.9 – so the speed is there. “If you look at the trend also on a longer-term trajectory, the RBA’s expectations are pretty much holding true.”