Figures released this morning, Wednesday, July 29, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose to 3.8% year-on-year in June, compared to 4% in May. This was slightly below expectations, as the May reading remained unchanged. On a monthly basis, the index fell by 0.1%, compared to a 0.7% decline in May (expectations were for 0.2%).

The largest increase in the index in June came from the housing sector, which grew by approximately 6.8%. The food and non-alcoholic beverages index rose by 3.3%, and prices in the recreation and culture sector also increased by 3.3%.