Decreasing inflation numbers ‘weren’t pretty’ as they were higher than expected

Independent economist Chris Richardson explains how the slight decrease in inflation will affect Australians. The March quarter inflation rate fell less than expected to an annual rate of 3.6 per cent. “They weren’t pretty – they were higher than expected,” Mr Richardson told Sky News Australia. “The IMF regularly says governments should help their central banks fight inflation and to do that, they need some combination of winding back spending or increasing taxes. “I’m hopeful, very hopeful, that we don’t raise interest rates anymore, but I would not be hopeful that we are cutting interest rates in Australia anytime soon."