“It is difficult to see anything other than positive news in today’s inflation data,” Innes Willox, Chief Executive of the national employer association Ai Group said today.
“The lower than expected annual rate of increase in inflation to the end of the March quarter, combined with the recent Labour Force data, should give some cause for hope that we are on track for a soft landing that retains as many of the recent gains in employment as possible. That said, Treasury still predicts we will not return to the RBA inflation target until the end of 2024 and we are not out of the woods yet.
“There are no guarantees that the landing will be soft and the path remains a narrow one. It therefore remains critical that continued restraint is exercised by business, governments and employees in price setting and wage negotiations,” Mr Willox said.
