SYDNEY (Reuters) – Prime Minister Anthony Albanese said on Saturday he was pleased to see inflation retreating in Australia, but cautioned that cost of living pressures remained nationwide.
Australian inflation slowed to an eight-month low in February, data out this week showed, due partly to a fall in holiday travel and accommodation prices, boosting the case for the Reserve Bank of Australia (RBA) to pause its rate-hike cycle when it meets on Tuesday.
“It was pleasing the results, the trend going in the right direction this week with the figures but we know cost of living pressures are there,” Albanese told reporters in Melbourne.
Inflation remained “a real issue” and “a global phenomenon”, he said, campaigning alongside the Labor Party’s candidate for the federal seat of Aston, in Victoria state, where a by-election was taking place.
Stubborn inflation has posed a challenge for the RBA, which last month…
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