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Stellar repair for outlook key6/18/2023 Commonwealth Bank group economists are expecting the consumer price index to surge 1.4 per cent in the quarter to 4.3 per cent annually, the fastest pace since September 2008, and up from 3.5 per cent in December. At this stage, economists are expecting the RBA to wait until its June board meeting before lifting the cash rate from its record low 0.1 per cent so it can also see wage growth data for the March quarter, due on May 18. Crucial inflation figures for the March quarter are released next week, and will likely determine the timing of an increase in the cash rate by the Reserve Bank of Australia. "This is translating to price increases," Mr Oster said. ![]() NAB chief economist Alan Oster says costs remain elevated, with labour and materials availability continuing to be a constraint for many firms. The National Australia Bank's small and medium enterprise business survey showed both confidence and conditions fell in the March quarter. ![]() ![]() The Omicron COVID-19 variant and rising costs took their toll on small businesses during the early stages of 2022, particularly for those in hospitality and construction.
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