Economists say Australia is in for a challenging year as we live through the bottom of an economic cycle. Annual inflation for January came in lower than expected at 3.4 per cent, as price pressures moderate. Subscribe: http://ab.co/1svxLVE Read more here: https://www.abc.net.au/news/2024-02-2...

That is the equal lowest pace of annual inflation recorded in the monthly Consumer Price Index indicator since November 2021. GDP data released in March will be key to see how much the economy slowed through 2023, with a risk it could have contracted in the December quarter. That will add pressure on the Reserve Bank to consider interest rate cuts earlier than expected.

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