Australia: Inflation declines to lowest level since March 2021 in June
Latest reading: Inflation edged down to 1.9% in June, which followed May’s 2.1%. June’s reading represented the weakest inflation rate since March 2021. Looking at the details of the release, prices for housing and utilities rose at a slower pace while prices for recreation dropped having grown in the prior month.
Lastly, consumer prices rose 2.40% in June over the same month of last year, coming in below May’s 2.56% rise. June’s result marked the weakest reading since November 2021.