ABS data shows inflation still too high but tracking lower than anticipated
Australian mortgage-holders have “dodged a bullet’, with the Reserve Bank now less likely to hike rates next month after new data showed inflation unexpectedly eased to 3.8%, in the year to June, from 4%.
The hotly anticipated consumer price report from the Australian Bureau of Statistics had been seen by some economists as a “make-or-break” moment ahead of the RBA’s upcoming rate decision on 11 August.
Continue reading...
TH
Source
This article was originally published by The Guardian and written by Patrick Commins Economics editor.
Read original article on The Guardian