Australia’s inflation falls to lowest level in three years

Australia’s inflation has fallen to its lowest level in three years. According to the Australian Bureau of Statistics, inflation dropped to 2.7 per cent in August – down from 3.5 per cent in July. The decline is partly due to the government’s energy bill rebates, but the temporary decline is set to be ignored by the Reserve Bank. Shadow Treasurer Angus Taylor says the central bank is more concerned about sustained reductions in inflation rather than temporary reductions.