Australia's goal to build more houses could get a bit easier

New data on building materials prices showed the first quarterly fall in over a decade.

Transcript

00:00We learned a lot this week about what's happening with inflation.

00:07The Consumer Price Index, or CPI, is inside the target band the Reserve Bank wants it.

00:13Both the headline figure and the RBA's preferred measure that excludes volatile items.

00:19Today, the business equivalent, and it suggests it could get cheaper to build housing.

00:25The prices for building materials recorded the first quarterly fall since March 2012.

00:31Timber and steel fell the most.

00:34Why? Lower costs thanks to less demand.

00:38US markets closed higher after earnings results from Facebook's parent company Meta and Microsoft.

00:45And Apple said new tariffs would cost it AU$1.4 billion in the coming quarter.

00:51Given they made a $56 billion profit in the last quarter, they can probably cover that.

00:57Our dollar up almost half a percent to 64.4 US cents in trading.

01:02And the OPEC oil cartel meets on Monday to discuss how much oil to produce.

01:08The price of crude oil is a quarter lower than it was a year ago.

01:12And if they suck less out, that will push prices up.

01:15But there's no consensus on what's going to come out of the talks.

01:18And fuel costs could get even lower.

01:21Our share market a full percentage point up.

01:24But corporate travel management downgraded what it thinks it will earn off the back of uncertainty in the economy and with global trade.

01:31Its shares slumped 10%.

01:34Despite that outlook, the crush at world airports continues.

01:38More than 5 billion passengers tipped to take to the skies this year.

01:42That's a lot of carry on.

01:44And that's finance.

01:45Come on, it's.

01:47You

01:56But

01:58You