Latest data due out this morning is expected to show inflation is slowing down faster than expected but will it be enough to bring down interest rates? 

ANZ's Henry Russell and Infometrics' Brad Olsen expect a headline rate of 3.3%, but driven by offshore factors. 

Russell says a lot of the decline in inflation is being driven by things like food prices, fuel and airfares and Olsen says the Reserve Bank will be more worried about "non-tradable" domestic inflation. 

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