CPI rose at an annual rate of 2.4% in January, cooler than expected

Australia's CPI rose at an annual rate of 2.4% in January, falling below economists' forecasts and slowing from December's 2.7% rate. Simultaneously, core inflation was cooler than anticipated last quarter. This development eases pressure on the RBA for near-term policy adjustments, granting the institution more scope to continue assessing the economic outlook. The data indicates a cooling trend in both headline and core inflation figures compared to previous expectations and the prior month's performance.