Inflation could fall below 3% by end of 2024, budget figures show – not next year as RBA has forecast

New numbers also reveal that Australia’s economy is growing slower than expected

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Inflation will fall back to within the Reserve Bank’s target range a year earlier than the bank has forecast, according to government figures released before Tuesday’s federal budget.

But the numbers also reveal that the economy growing slower than expected, with the budget papers set to warn that “considerable uncertainty” surrounding the global and domestic economic outlook is making accurate forecasting more difficult than usual.

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