Shadow Finance Minister Jane Hume says Australia is “already” in a “per capita recession”.

The Reserve Bank is expected to keep the cash rate steady at 4.35 per cent after its meeting this week.

Some economists have predicted a rate cut around February next year if inflationary pressures are brought under control.

“We’re already in a per capita recession here in Australia,” Ms Hume told Sky News Australia.

“Growth in the last 12 months was only 1.1 per cent.

“Essentially, the economy is grinding to a halt.”