Today’s figures show inflation dropped to 3.6% in the year to the March quarter, down from 4.1% in the previous quarter. Annual inflation is now less than half its peak and much lower than the 6.1% we inherited at the time of the election. #auspol #ausecon pic.twitter.com/0COaGqDqFE

New numbers just out show inflation has now almost halved since @AustralianLabor came to office. It’s still too high, people are still under the pump, but we’re making progress. The Budget next month will focus on easing cost of living pressures, not adding to them. #auspol pic.twitter.com/9d856grxCs

Perhaps surprising: consumer prices since 2015 have grown at a level consistent with the RBA's 2-3% target. That's because inflation undershot the target from 2015 to 2021. pic.twitter.com/Yc5wb1RpIF

Fun fact: When RBA last hiked rates in November 2023 to 4.35%, it was forecasting inflation to be 3.9% by June Q 2024; 3.3% by Dec Q 2024. In March Q, it has cascaded to 3.6%: likely to be around that for June Q & sub 3% in Dec Q with monetary policy where it is. Just saying