Yeah, nah… That’s according to Reserve Bank Governor Philip Lowe, who fronted a Senate estimates hearing yesterday. While the prices of some goods were declining, he says the central bank is forecasting rent – the most significant contributor to inflation – to rise by 10% as demand continues to outstrip supply. And with house prices rising for another month in May, housing was a key reason behind Australia’s inflation rate rising to 6.8% over the 12 months to April, up from 6.3% in March. That’s according to new Bureau of Stats data released yesterday that revealed spikes in food, transport and recreation costs. Economists are split on whether interest rates will go up again when it meets next Tuesday, but some reckon it won’t as underlying inflation – which excludes volatile items like food and fuel from the data – eased to 6.5% in April from 6.9% in March. Just 5 more sleeps until we find out…