Inflation expected to ‘trend down’ by end of next year

Westpac Chief Economist Bill Evans has discussed the expectation for Australia's inflation rate in the coming year. Mr Evans said the bank is expecting next year inflation will "trend down to the, sort of, low 3s by the end of the year – coming from the 5.1 (per cent) it is," he told Sky News Business Editor Ross Greenwood. “And that’ll be because we’re expecting oil prices to come back, we’re expecting building materials cost to come back, particularly with the US construction cycle slowing down."