Early Australian Election Seen Less Likely Despite Cooler Prices

Australia’s center-left government will be breathing a sigh of relief after the latest inflation data all-but ruled out another interest-rate hike, though experts say cost pressures are dissipating too slowly for an early election.

Prime Minister Anthony Albanese must hold a ballot by May 2025 and some ruling Labor party lawmakers had hoped easing consumer prices and rate cuts in coming months would set the stage for a possible December vote. First-term governments in Australia have historically called early elections to try and capitalize on good polling or an improving economy.