End of government subsidies drives electricity costs up by 19% in the month and leaves power bills nearly a third higher than they were a year earlier
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The Reserve Bank governor has denied inflation is “taking off” after new data showed price rises had persisted into 2026 and boosted bets on two more interest rate hikes.
Annual inflation stayed at a high 3.8% in January, as the end of government subsidies drove electricity costs up by 19% in the month and left power bills nearly a third higher than they were a year earlier.
