Annual inflation in Australia slowed to 3.5% in July, missing economists’ expectations of 3.2% growth.
Australia’s annual consumer price inflation eased to 3.5% in July, down from 3.8% in June, according to official data. The reading fell short of the 3.2% forecast by economists, signaling a continued but uneven cooling in price pressures.
The July print marks a modest deceleration from the previous month but remains above the Reserve Bank of Australia’s 2-3% target range. Markets had anticipated a sharper slowdown, with consensus estimates centering on 3.2% growth.
The data follows a series of mixed inflation signals, including a surprise uptick in June, which had fueled speculation about further monetary policy tightening.