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MNI BRIEF: Services Inflation Remains High - RBA's Kohler

(MNI) Melbourne
APACPolicy NewsCentral Bank NewsAustraliaBriefStoryRBARegion

Australian services price inflation remains high and broadly based, despite goods-price falls, and will continue to add pressure while the level of demand exceeds supply, said Marion Kohler, head of economic analysis department at the Reserve Bank of Australia.

Speaking at an industry conference, Kohler noted firms continued to face pressure from higher labour and non-labour costs like professional services, logistics and insurance. “We are forecasting that services inflation will decline from here, but only gradually as demand moves into better balance with supply and domestic cost pressures moderate.”

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Australian services price inflation remains high and broadly based, despite goods-price falls, and will continue to add pressure while the level of demand exceeds supply, said Marion Kohler, head of economic analysis department at the Reserve Bank of Australia.

Speaking at an industry conference, Kohler noted firms continued to face pressure from higher labour and non-labour costs like professional services, logistics and insurance. “We are forecasting that services inflation will decline from here, but only gradually as demand moves into better balance with supply and domestic cost pressures moderate.”

Keep reading...Show less