Inflation rate hits 3%

THE inflation rate hit 3% on Wednesday, the highest level preferred by the Reserve Bank, before it would consider taking further action on monetary policy.

Figures from the ABS showed the consumer price index rose to 3%, despite the RBA's latest outlook showing it would not likely change the cash rate, sitting at 2.5%.

The data showed a 0.5% increase in inflation in the June quarter, after a 0.6% rise in the March quarter this year, on the back of rallying consumer activity.



UPDATE: CCC slams Ipswich council in final report

premium_icon UPDATE: CCC slams Ipswich council in final report

Staff told to cover up breaches, threatened by councillors

Spitter's threat to slash throats, kill police

premium_icon Spitter's threat to slash throats, kill police

Officers, guards bare brunt of troublesome drunk

Two killed in head-on crash on rural Queensland road

Two killed in head-on crash on rural Queensland road

Crash occurred shortly after noon.

Local Partners