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Australia’s monthly headline inflation rate (as CPI) has been revealed to sit at 3.4 per cent in the twelve months to January 2024.

This reflects an unchanged inflation rate compared to the monthly December data.

In short: Australian inflation hasn’t budged. Not great, not terrible.

Core inflation notched down 0.1pc to 4.1pc; down from 4.2pc in December.

The ASX had been tipped for a green day according to pre-market futures but by 11am AEDT the ASX200 and All Ords dipped into the red as hand-wringing took over.

The domestic tech index (XTX:ASX), meanwhile, was up 0.6pc.

Markets responded with positivity right out the gate, with the ASX200 immediately sprouting upward to nearly cross the line into the green – before coming back down.

The market, right on the back of the release, wasn’t too sure what to do.

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