Australia’s Cooler Inflation Boosts Case to Pause Rate Again
- Reading is second straight quarter of a lower inflation rate
- Biggest annual gains in new dwellings, rent, domestic holidays
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Australia’s inflation rate eased more than expected in the three months through June, reflecting global trends and bolstering the case for the Reserve Bank to pause again at next week’s policy meeting.
The consumer price index advanced 6% in the second quarter from a year earlier, less than economists’ estimate of 6.2%, Australian Bureau of Statistics data showed Wednesday. The result was the second consecutive decline in the pace and the RBA currently expects inflation will return to the top of its 2-3% target by mid-2025.