Unemployment up, inflation down in fresh RBA forecasts

The Reserve Bank of Australia has updated its economic forecasts in its quarterly Statement on Monetary Policy, released alongside a 25 basis point cash rate cut on Tuesday.

GROSS DOMESTIC PRODUCT:

* Dec 2024 - 1.3pct, prev 1.1pct

* Dec 2025 - 2.1pct, prev 2.4pct

* Dec 2026 - 2.2pct, prev 2.3pct

UNEMPLOYMENT RATE:

* Dec 2024 - 4pct, prev 4pct

* Dec 2025 - 4.2pct, prev 4.2pct

* Dec 2026 - 4.3pct, prev 4.2pct

WAGE PRICE INDEX:

* Dec 2024 - 3.2pct, prev 3.2pct

* Dec 2025 - 3.3pct, prev 3.4pct

* Dec 2026 - 3pct, prev 3.1pct

CONSUMER PRICE INDEX:

* Dec 2024 - 2.4pct, prev 2.4pct

* Dec 2025 - 3pct, prev 3.7pct

* Dec 2026 - 2.9pct, prev 2.8pct

TRIMMED MEAN INFLATION:

* Dec 2024 - 3.3pct, prev 3.2pct

* Dec 2025 - 2.6pct, prev 2.7pct

* Dec 2026 - 2.6pct, prev 2.7pct