Rate cut hopes rise on latest inflation print
The latest consumer price index rose by 2.1 per cent for the 12 months to May 2025, beating expectations of 2.3 per cent.
The all-important trimmed mean inflation rate, which the Reserve Bank considers when making decisions about the cash rate, came in at 2.4 per cent, its lowest point since November 2021.
The money markets immediately jumped and are now factoring in an 85 per cent chance of a rate cut in July.
Australia's inflation undershoot came as the price of food and non-alcoholic beverages fell from 3.1 to 2.9 per cent over the month.
Prices for fruit and vegetables rose 2.8 per cent in the 12 months to May, down significantly from a 6.1 per cent rise in the 12 months to April.
Fruit prices fell 2.7 per cent in the month of May with lower prices for mandarins, oranges, avocados and apples.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
News.com.au
18 minutes ago
- News.com.au
2025 Nissan Ariya prices and details
Nissan has finally confirmed Australian details for its long-awaited Ariya electric car. Landing in showrooms six years after it was unveiled in concept form and more than three years after going on sale in Europe, the Ariya's debut was delayed by government red tape surrounding Australian Design Rules that require a unique 'top tether' anchor point for child seats. Its arrival has been timed to help soften the blow of new emissions laws that punish popular – but thirsty – cars such as the Nissan Patrol. The brand's long-awaited alternative to the Tesla Model Y shapes up as a family-friendly SUV of a similar size to the Volkswagen ID. 4 and BYD Sealion 7. Set to arrive in September, the Ariya has sharp prices that undercut some rivals. Priced from $60,595 drive-away, the entry-level Nissan Ariya Engage undercuts the cheapest Tesla Model Y by about $3500. Nissan's 12.3-inch digital dash and 12.3-inch infotainment screen are great to have, as is the brand's 'ProPilot' suite of driver assistance features that can handle stop-start traffic jams. But a closer look at the Nissan's spec sheet shows where the brand has cut corners. Equipped with a front-mounted motor as standard, basic front-wheel-drive versions of the car have 160kW of power and need 8.0 seconds to reach 100km/h, making them significantly slower than a rear-wheel-drive Tesla, which needs 5.9 seconds to reach the same mark. The Ariya's 385km claimed range also lags behind the Tesla's 466km. And the basic Ariya promises to be a cold place on winter mornings. Most electric cars have heated seats as standard – the cheapest Tesla Model Y has them in the front and rear – as EV cabins can take longer to warm up without a hot combustion engine under the bonnet. Nissan customers who want heated seats in the front and rear need to upgrade to the Ariya Advance + for $68,995 drive-away. The model also benefits from a larger battery with 504km of claimed range, plus a 10.8-inch head-up display, panoramic sunroof, ventilated front seats and a power sliding centre console. At the top of the range, the all-wheel-drive Nissan Ariya e-4orce adds a rear-mounted electric motor to effectively double its power output, resulting in a 0-100km/h time slashed to 5.6 seconds. It also has Nappa leather, 20-inch wheels and upgraded towing capacity to help justify an asking price of about $77,395 drive-away. The brand has not confirmed an Australian debut for the sportier Ariya Nismo model. Nissan's key advantage over the likes of Tesla is a 10-year warranty that applies to models serviced throughout its considerable dealer network. Customers who service their cars externally get a five-year guarantee. Warwick Daly, deputy director of marketing and mobility, Nissan Australia, said it is 'exciting to see Nissan's long history in the Australian electric vehicle space continue in the Ariya, which pairs incredible design, a clever and spacious interior, intelligent driving systems with advanced battery and motor technology to deliver a truly thrilling drive'. 'Understandably, a lot of people have been waiting for the Ariya to arrive in Australia, and I'm so excited that customers can now place orders,' he said. The Ariya is a vital part of the strained Renault-Nissan-Mitsubishi alliance.
News.com.au
18 minutes ago
- News.com.au
Why Hyundai's boss says it is doing a ‘terrible job'
Hyundai's new Australian boss says the brand has 'ground to make up' after doing a 'terrible job' selling electric cars in Australia. Don Romano took over as Hyundai's Australian chief executive in March after a stint in Canada, where the brand has a strong share of electric vehicle sales. But in Australia, Hyundai's EV performance is less impressive. The critically acclaimed Hyundai Ioniq 5 and Ioniq 6 duo attracted just over 500 combined sales in the first six months of the year, placing them well behind rivals such as the Tesla Model Y (10,431) and Model 3 (3715), BYD Sealion 7 (3756) and Seal (1609), Kia EV5 (2765), MG4 (2268), Geely EX5 (1845) and Polestar 4 (676). 'We have ground to make up,' Romano says. 'We do a terrible job with our EVs … we are not doing the job we should be. 'Our market share of electric vehicles is extremely low relative to our market share of total vehicles and the only explanation for that is that we haven't put enough focus on it because I can see other electric car companies that are … doing a much better job with their EVs than they do with their ICE [internal combustion engine vehicles]. 'We're the opposite.' Romano believes Hyundai's previous managers made mistakes, including a decision to bypass the brand's dealer network to sell cars such as the Ioniq 5 directly to customers. 'We went around our dealers,' Romano says. 'So, we have a job to do to get our dealers back in the game and to let them know that no, we are going through our dealer body and that you are an important part of the distribution process.' Romano's experience in North America differs from Australia. In the US and Canada, General Motors has the largest EV share behind Tesla. But here, Chinese brands such as BYD have an enormous role to play in the market, making competition tough for Hyundai. Hyundai's cheapest Inster EV starts from about $43,000 drive-away, roughly $10,000 more than the BYD Dolphin. The Ioniq 5 SUV is about $15,000 more than BYD's Sealion 7, and the Ioniq 6 sedan starts $27,000 upstream from the equivalent BYD Seal. 'The real issue when you talk about competitiveness is probably when you look at Chinese EVs, and the question I'd have is 'how long can they sustain that low price' when we're all using the same materials and the same equipment?',' he says. 'Eventually, when you look at the same systems that are used to build these cars and the same equipment and the same material, eventually, it comes to an equilibrium where we're all having on the same cost factor that we're going to have to all live with. 'And then the pricing really just comes down to what it takes to distribute the cars and market the cars. So I don't think any change in our competitive pricing is something that is a long-term issue. I think we're going to ultimately all be in the same bandwidth on a car-by-car basis. 'I don't know how they do it other than, you know, I read the same things you do about government intervention and support … 'It's one big world that we all live in and we're all going to be living in the same economic environment, so whatever advantage one country has over another, and I've seen this happen in my 40 years, where it used to be cheaper to build in one country than another, and then suddenly it's just as expensive, I think that's ultimately going to happen. 'Whether that's in my lifetime or not, that I can't answer. But for right now it appears they have it.'
ABC News
an hour ago
- ABC News
More scrutiny for Australia's child care sector
Australia's child care sector is set to come under further scrutiny in the coming weeks as another inquiry puts the sector under the microscope.
