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Australia’s Monthly Inflation Indicator Eased to 6.8% in August

Australian inflation slowed slightly, a first reading of an official monthly indicator showed, signaling price pressures may be starting to ease in response to rapid-fire interest rate increases.

The consumer price indicator rose 6.8% in the year through August from 7% in the prior month, the Australian Bureau of Statistics said Thursday. Yet, when volatile items such as fruit, vegetables and fuel were excluded, the indicator edged up to 6.2% in August from 6.1% in July.