Australian consumer price index inflation grew less than expected in the second quarter, data showed on Wednesday, furthering the case for a pause in the Reserve Bank’s rate hike cycle.
CPI inflation grew 0.8% in the June quarter from the prior quarter, lower than estimates of 1% and slowing from the 1.4% seen in the March quarter, according to data from the Australian Bureau of Statistics (ABS). The CPI reading was the slowest since the September 2021 quarter.
Read More : Australia’s CPI Inflation Eases in Q2, Strengthening RBA’s Pause Speculations