Headline inflation remained steady at 2.4 per cent for the 12 months to April but was slightly hotter than forecast. The Reserve Bank's preferred measure of underlying inflation, the trimmed mean, rose from 2.7 per cent in the year to March to 2.8 per cent last month. The RBA board will be watching inflation when making monetary policy decision, with the next quarterly figures to be released in late July — after its next meeting.
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TVTranscript
00:00The sandals sold in this shop could soon cost more, catching some shoppers out.
00:09Oh no, I would buy a pair right now before that happens.
00:12I don't think it's fair, you know.
00:14German shoe manufacturer Birkenstock is preparing to raise prices across the globe
00:20because of Donald Trump's trade policies.
00:23For a full offset of tariff impact, we would need only a low single-digit price increase globally.
00:29Danish jewellery maker Pandora is also considering global price hikes.
00:34The risk of higher prices and slowing growth are really among the key concerns we have
00:39for these decisions announced out of Washington DC.
00:42The tariff fallout isn't posing a risk to inflation yet.
00:46Consumer prices rose just 2.4% in the year to April,
00:51driven by higher prices for holidays and food, in particular eggs, lamb, goat and fruit.
00:58Rent hikes eased while electricity and fuel prices went backwards.
01:03The RBS preferred measure of underlying inflation ticked up to 2.8%,
01:09which is still within the central bank's target range.
01:12Economists say the central bank's next move on interest rates could come soon.
01:17We think the next cut is in August, but there's suddenly a big risk for a cut in July.
01:23The Reserve Bank meets just before the U.S. pause on reciprocal tariffs on more than 15 nations ends.
01:30While the central bank thinks the trade war will put downward pressure on inflation here,
01:35there are scenarios where it could push up prices.
01:38If this goes far enough and it impairs global supply chains,
01:42that could push inflation up here and everywhere else.
01:45At a time when many are still grappling with cost of living pressures.
01:50The Reserve Bank meets the Verse 2.
01:57In the honor of the United States the United States,
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02:03the U.S. Army Abundance, the U.S. Army Abundance,
02:06the U.S. Army Ways to be fueled by the U.S. Army Abundance,