UN Tips Slow and Steady Inflation Progress in Australia

Published on January 6, 2024

Rising rental prices are likely to limit progress on inflation in Australia this year based on United Nations (UN) projections.  The intergovernmental organisation has inflation falling fairly gradually in Australia and New Zealand over the next 12 months, with competitive rental markets largely responsible for the sluggish progress. “In Australia and New Zealand, inflation is projected to remain relatively high in 2024 due to the acceleration in rental prices driven by housing supply shortages,” read the UN’s 2024 World Economic Situation and Prospects report. Australia’s consumer price inflation is tipped to ease to 3.3 percent in 2024, according to the UN’s forecasts, before sinking to three percent in 2025. ...

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