-
Australia: June inflation falls further
June monthly inflation dropped to 5.4%YoY as expected, though last month's inflation was revised down to 5.5%, so the month-on-month increase was higher (0.7%) than had been expected. The revisions also helped bring down the 2Q23 quarterly inflation rate to 6.0% YoY from 7.0%, and there were also decent declines in the trimmed mean core inflation rate (5.9% down from 6.6%) and the weighted median rate (5.5% from 5.9%). Don't get complacent With the CPI index for June last year rising 0.8% MoM, a further decline in Australia's annual inflation rate for June 2023 was always a good bet. And the outlook for the July ... (full story)