Australia's RBA Continues to Play Catch up on Inflation

Dow Jones07:53

2353 GMT - Australia now has the second-highest inflation rate across all advanced economies, behind only Iceland, after trimmed mean inflation rose to 3.6% in May, according to data platform Trading Economics. For John Simon, a former head of economic analysis at the central bank, the data is evidence that the Reserve Bank of Australia has let inflation fester. The RBA pursued a poor strategy founded on the mistaken premise that they could let inflation run without it affecting inflation expectations, he says. It is only now that they are acknowledging that maybe the assumption their entire strategy hinged on was not a good one, he adds. (james.glynn@wsj.com; X @JamesGlynnWSJ)

(END) Dow Jones Newswires

July 05, 2026 19:53 ET (23:53 GMT)

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It is only now that they are acknowledging that maybe the assumption their entire strategy hinged on was not a good one, he adds. 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For John Simon, a former head of economic analysis at the central bank, the data is evidence that the Reserve Bank of Australia has let inflation fester. The RBA pursued a poor strategy founded on the mistaken premise that they could let inflation run without it affecting inflation expectations, he says. It is only now that they are acknowledging that maybe the assumption their entire strategy hinged on was not a good one, he adds. (james.glynn@wsj.com; X @JamesGlynnWSJ) \n</p>\n<pre style=\"white-space: pre\">\n \n</pre>\n<p>\n  (END) Dow Jones Newswires\n</p>\n<p>\n  July 05, 2026 19:53 ET (23:53 GMT)\n</p>\n<p>\n  Copyright (c) 2026 Dow Jones &amp; Company, Inc.\n</p>\n</font>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"FXD","symbol_name":"First Trust Consumer Discretiona","start_time":0,"source_url":"https://dowjonesnews.com/newdjn/logon.aspx?AL=N","article_id":"2649261481","we_media_id":"106","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2649261481","pubTimestamp":1783295580,"columns":[],"sourceInfo":null,"weMediaInfo":{"media_name":"Dow Jones","introduction":"Dow Jones publishes the world’s most trusted business news and financial information in a variety of media.","home_visible":0,"id":"106","head_image":"https://static.tigerbbs.com/150f88aa4d182df19190059f4a365e99"},"summary":"2353 GMT - Australia now has the second-highest inflation rate across all advanced economies, behind only Iceland, after trimmed mean inflation rose to 3.6% in May, according to data platform Trading Economics. 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For John Simon, a former head of economic analysis at the central bank, the data is evidence that the Reserve Bank of Australia has let inflation fester. The RBA pursued a poor strategy founded on the mistaken premise that they could let inflation run without it affecting inflation expectations, he says. It is only now that they are acknowledging that maybe the assumption their entire strategy hinged on was not a good one, he adds. 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