Australia's underlying inflation rose to 3.6% in May, the highest level since 2024, signaling the Reserve Bank of Australia may need another rate hike despite headline inflation cooling to 4%. For real estate developers and professionals, persistent housing inflation at 6.5%—driven by construction costs, electricity, and rents—combined with potential rate increases adds to cost pressures and mortgage affordability challenges. Government fuel subsidies are masking true inflation pressures, and the RBA remains cautious about further tightening even as cost-of-living pressures erode purchasing power.
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