Inflation accelerates slightly in May
Inflation has quickened compared with April, but remains the within the Reserve Bank’s target range
Inflation accelerated slightly to 4.5% in May, giving impetus to calls for an interest cut in July.
Measured by the annual change in the consumer price index (CPI), inflation accelerated from April’s 4.4% — but remained at the midpoint of the Reserve Bank’s 3%-6% target band. Economists polled by Bloomberg expected inflation to remain flat at 4.4%.