Figures released this morning, Wednesday, June 24, during the Asian session by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose by 4% year-on-year in May, compared to 4.2% in April 2024. This was below expectations of a 4.3% increase. The index fell by 0.7% month-on-month, compared to 4% in April.

The largest increase in the index in January came from the housing sector, which grew by approximately 6.5%. The food and non-alcoholic beverages index rose by 3.3%, transport prices increased by 3.3%, and prices in the recreation and culture sector rose by 2.4%.