<div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Mortgage holders are likely to be spared an </span><a href="https://www.9news.com.au/interest-rates" rel="" target="_blank" title="interest rate hike next month"><span>interest rate hike next month</span></a><span> after the latest figures revealed inflation in Australia slowed for November.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Australian Bureau of Statistics (ABS) data showed headline </span><a href="https://www.9news.com.au/inflation" rel="" target="_blank" title="inflation"><span>inflation</span></a><span> dropped to 3.4 per cent for the month, easing fears that a rate rise could be delivered in February.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The inflation rate dropped more than expected after October inflation hit 3.8 per cent, but is still above the RBA's target range of 2-3 per cent.</span></div></div><div><div id="adspot-mobile-medium"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/uk-eta-for-australian-2026-travel-rules-changes-dual-citizen-passport-requirements/6d415761-bdea-4d26-8aa5-35baf5cda026" target="_blank" title="'Doesn't feel fair': Australian-British citizens caught out by new passport rule"><strong><span>'Doesn't feel fair': Australian-British citizens caught out by new passport rule</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Forecasters will be confident the cash rate will remain steady at the RBA's February meeting, however it could rise again later in the year, said Bank of Queensland chief economist Peter Munckton.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>If inflation spiked, economists had warned it would be a sign that an interest rate was coming within weeks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Underlying inflation dropped slightly to 3.2 per cent, which was in line with economists' expectations.</span></div></div><div><div class="OUTBRAIN" data-reactroot="" data-src="//www.9news.com.au/national/november-monthly-inflation-cpi-lowers-risk-of-interest-rake-hike/bc86fc00-eef1-49bd-8de7-b3ce42f532cd" data-widget-id="AR_5"></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>December's quarterly inflation report, released in late January, will inform the RBA's deliberations during the early February meeting.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE: </span></strong><a href="https://www.9news.com.au/national/northcote-mcdonalds-fast-food-giant-quietly-files-vcat-action-to-appeal-council-decision/dde8a91d-54df-49c1-91e6-4c196fdf9bed" target="_blank" title="Macca's fights back after council blocks new 24-hour joint on trendy street"><strong><span>Macca's fights back after council blocks new 24-hour joint on trendy street</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><strong><span>READ MORE:</span></strong><span> </span><a href="https://www.9news.com.au/national/bondi-shooting-hero-ahmed-al-ahmed-arrives-in-usa-for-treatment/cb78e970-f661-47a7-a759-b40b183d33c8" rel="" target="_blank" title="Bondi hero Ahmed Al Ahmed greeted by FBI as he touches down in US"><strong><span>Bondi hero Ahmed Al Ahmed greeted by FBI as he touches down in US</span></strong></a></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"The next CPI release includes the quarterly data and will have a more significant impact on near-term inflation views (and therefore the cash rate outlook)," Munckton added.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>The biggest drivers of annual inflation over the past 12 months have been housing, transport, food and non-alcoholic beverages, the ABS said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>However, furniture prices fell by around 4.6 per cent, mostly driven by Black Friday sales.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://www.9news.com.au/national/australia-reserve-bank-december-2025-interest-rate-decision/d3fd2268-d033-4c54-a2bf-f5027ecda190" rel="" target="_blank" title="The Reserve Bank of Australia announced in December"><span>The Reserve Bank of Australia announced in December</span></a><span> that interest rates would remain on hold at 3.6 per cent, confirming the predictions of the big four banks.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>In its monetary statement, the RBA said it was carefully watching how the economy was responding to three interest rate cuts in the past 12 months.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>Treasurer Jim Chalmers said at the time it was the "expected result".</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"A lot of Australians would have wanted some more rate relief but they wouldn't have expected it," he said.</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><span>"There was, in the estimations of the market and economists, no chance of a rate cut today and that is what we have seen in this decision taken independently by the Reserve Bank."</span></div></div><div class="block-content"><div class="styles__Container-sc-1ylecsg-0 goULFa"><a href="https://9.nine.com.au/Z8tJCf"><strong><span>Sign up here</span></strong></a><span> </span><strong><span>to receive our daily newsletters and breaking news alerts, sent straight to your inbox.</span></strong></div></div>