RBA tips 6 per cent inflation by year-end

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THE RESERVE BANK'S LATEST KEY ECONOMIC FORECASTS:

GDP (previous forecast in brackets)

June 2022 - 3.25 per cent (5.0 per cent)

Dec 2022 - 4.25 per cent (4.25 per cent)

June 2023 - 3.0 per cent (2.5 per cent)

Dec 2023 - 2.0 per cent (2.0 per cent)

June 2024 - 2.0 per cent (2.0 per cent)

Unemployment

June 2022 - 3.75 per cent (4.0 per cent)

Dec 2022 - 3.75 per cent (3.75 per cent)

June 2023 - 3.5 per cent (3.75 per cent)

Dec 2023 - 3.5 per cent (3.75 per cent)

June 2024 - 3.5 per cent (3.75 per cent)

Inflation

June 2022 - 5.5 per cent (3.75 per cent)

Dec 2022 - 6.0 per cent (3.25 per cent)

June 2023 - 4.25 per cent (2.75 per cent)

Dec 2023 - 3.25 per cent (2.75 per cent)

June 2024 - 3.0 per cent (2.75 per cent)

Underlying Inflation

June 2022 - 4.5 per cent (3.25 per cent)

Dec 2022 - 4.75 per cent (2.75 per cent)

June 2023 - 3.5 per cent (2.75 per cent)

Dec 2023 - 3.25 per cent (2.75 per cent)

June 2024 - 3.0 per cent (2.75 per cent)

(Source: RBA quarterly statement on monetary policy)

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