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Reserve Bank of Australian governor, Michele Bullock, cautions that the country is not yet where it needs to be in bringing down inflation.
Data indicates modest growth amid cost-of-living pressures
Over the past 12 months, household spending has experienced a notable uptick, registering a growth of 3.1%, as disclosed in the latest data from ABS
Australians continued to enter into the home loan market last year, even as interest rates and house prices increased, but household spending may be weaker than what the data suggests.
This driven by spending on essential goods and services