Figures released this morning, Wednesday, August 26, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose to 3.5% year-on-year in July, compared to a 3.8% increase in June. This was slightly below expectations of a 3.73% rise. The index also rose by 1% month-on-month, compared to a 0.1% decrease in June (expectations were for 0.9%).

The most significant increase in the index in July came from the housing sector, which grew by approximately 5%. The food and non-alcoholic beverages index rose by 3.2%, and the recreation and culture sector saw a 2.6% increase.