Later today the Australian Bureau of Statistics will release Australian CPI data for the December quarter.
According to the latest Westpac Banking Corp (ASX: WBC) Weekly economic report, its team expect another soft outcome.
Westpac has predicted a 0.3% quarterly gain for both headline and core inflation, for an annual pace of around 1.5%.
As this is well short of the Reserve Bank's target range, I believe it is yet another sign that rates are not going higher any time soon.
In light of this, if I had $10,000 sitting in a savings account I would consider investing it into the share market in one of these top shares:
Altium Limited (ASX: ALU)
Altium is an electronic design software provider behind the award-winning Altium Designer product. This Printed Circuit Board (PCB) Computer Aided Design product incorporates all the tools engineers and PCB designers need into a single, stress-free user interface, which dramatically increases design successes, while reducing overall design times. Thanks partly to the rapidly growing Internet of Things market, I expect demand for Altium Designer to grow strongly over the next decade, underpinning above-average earnings growth.
Cochlear Limited (ASX: COH)
Another great option for that $10,000 could be Cochlear. This is because as people grow older their hearing will invariably deteriorate. So with populations around the world ageing, the market opportunity for Cochlear's leading hearing solutions products is increasing. And thanks to its wide distribution network, I believe it is well-positioned to capitalise on the increasing demand.
Coles Group Ltd (ASX: COL)
A final option that I think is worth considering is this supermarket giant due to its defensive qualities, solid long term prospects, and generous dividend. This year analysts at Macquarie expect the company to pay a 65.7 cents per share dividend. This equates to a forward fully franked 5.2% dividend yield, which is vastly superior to anything you'll find with savings accounts or term deposits.
