Inflation figures came out last week, and the annual figure tumbled from 3.8 per cent to 2.8 per cent - the lowest since the March quarter of 2021.

And it's welcome news for at least some of your grocery shop with bread prices, which were climbing at 14 per cent in Sydney and Melbourne a year ago, are now climbing at only 1.2 per cent.

And cheese is getting cheaper too.

So is the cost-of-living crisis over? And what can Australians expect from the Reserve Bank meeting on Tuesday?

Senior economics correspondent Shane Wright, and economics writer Millie Muroi, talk us through what the new inflation figures mean for you.

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Read...Shane Wright'ss-your-inflation-rate-then-there-s-the-reserve-bank-s-rate-20241030-p5kmgt.html"> 'There’s your inflation rate – then there’s the Reserve Bank’s rate', The Age and Sydney Morning Herald.

Watch...'Inflation falls, but don't expect cuts to follow', ABC's The Business.

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