Australia Inflation rose 2.4% in the first quarter, maintaining a four-year low compared to the same period last year.

That's higher than Reuters' expectations for a 2.3% climb, and it has no change compared to the 2.4% increase in the previous quarter.

The most important prices for the quarter are housing, education, and food and non-alcoholic beverages, according to the Australian Bureau of Statistics.

This part is reduced by the prices of entertainment and cultural activities as well as the prices of furniture, household equipment and services.

The country's inflation rate has been weakening after years of 7.8% higher in years since the December 2022 quarter, with title inflation falling in seven of the following nine quarters.

The decline in inflation also brought the Reserve Bank of Australia's rooms to 4.35 per cent, the highest level since December 2011.

Australia Group said that in 2025, growth in Australia's economy is expected to grow and the labor market will remain strong, but added: "It is not clear what will happen globally."

Sean Langcake, head of macroeconomic forecasts at Oxford Economics, noted that after the CPI release, “potential inflation measures better, while pruning the mean inflation lags behind the RBA’s target range.”

The average inflation of prunes excludes extreme price changes in consumer goods and services, up 0.7% in the quarter and up 2.9% per year. The inflation target range of RBA is 2%-3%.

"With potential inflation within the RBA target range, the bank has a larger scope that can help support the economy through this shock," Langcake noted.

He expects 25 baseline cuts in May, with two more layoffs in the second half of the year.

Stephen Wu, senior economist at the Commonwealth Bank of Australia, predicted in the April 22 note.

The press release also took place as Australia prepares for an election on May 3, with all 150 seats and 40 of the 76 seats in the country's Senate Senate.

Reuters quoted news reports that on April 28, the Labor Party led by incumbent Prime Minister Anthony Albanese is currently leading by four-pointers in the conservative liberal national opposition, when the votes of smaller parties were redistributed.