<?xml version="1.0" encoding="ISO-8859-1"?> <docID>334140</docID> <postdate>2024-11-27 12:46:53</postdate> <headline>Annual inflation rate hangs on at 2.1 per cent</headline> <body><p><img class="size-full wp-image-334141" src="https://citynews.com.au/wp-content/uploads/2024/11/20131030000819946106-original-resized.jpg" alt="" width="900" height="600" /></p> <caption>Falling expenses have helped keep headline inflation within the central bank's target band. (Dan Peled/AAP PHOTOS)</caption> <p><span class="kicker-line">By <strong>Poppy Johnston</strong> in Canberra</span></p> <p><strong>Australia's annual headline inflation rate has held at 2.1 per cent in October for a second month, coming in a little below expectations.</strong></p> <p>Despite clocking a second month at the bottom of the Reserve Bank of Australia's two-three per cent target range, the central bank has been more focused on underlying measures that strip out volatility.</p> <p>The monthly gauge's trimmed mean annual inflation rate ticked higher to 3.5 per cent in October, from 3.2 per cent in September.</p> <p>Australian Bureau of Statistics head of prices statistics Michelle Marquardt said annual headline inflation had held at its lowest rate since July 2021.</p> <p>"The falls in electricity and fuel had a significant impact on the annual consumer price index measure this month," she said.</p> <p>The central bank has kept interest rates high at 4.35 per cent for more than 12 months to tame inflation.</p> <p>Economists are broadly of the view the next interest rate move will be down but the timing remains unclear, with stretched borrowers hoping for repayment relief as soon as possible.</p> <p>The bureau's monthly inflation readout is considered more volatile and not as comprehensive as the quarterly version, with the RBA placing more emphasis on the latter.</p> </body>