That translates to an accumulative increase of $272 and $453, respectively, per month since February.The central bank also updated its inflation forecast — and it expects the situation to get worse before it gets better.Previously, the central bank had forecast in May 2025 that trimmed mean inflation — it's preferred measure that strips out volatile items — would stay within its target band at 2.6 per cent through to 2027.But what actually happened was underlying inflation rose to 3.3 per cent as the war in the Middle East erupted in late February.Now, the RBA expects trimmed mean inflation to peak at 3.8 per cent in June and stay above 3 per cent until coming within its 2-3 per cent target by the end of next year.That's seen some economists shift their forecasts: NAB expects another rate rise in June, while Westpac has adjusted its forecast from two more hikes in June and August, to August and September.The Australian dollar hit a four-year high on Thursday, passing 72.47 US cents — which was last reached in April 2022.This week's rate hike, and the prospect of more, consolidated the local currency’s performance Hopes of a peace deal between the United States and Iran also helped push the Australian dollar higher.Angus Geddes, chief investment officer at Fat Prophets, told SBS On The Money that those hopes have pushed up commodity prices, like iron ore, further supporting the Australian dollar.However, that was short-lived as tensions renewed on Friday, and the dollar retreated from those highs, though it remains above 72 US cents.Petrol prices continued to fall last week, according to the Australian Institute of Petroleum.It found national average price for unleaded dropped 8.9 cents a litre to 183.4 cents