Figures released this morning, Wednesday, July 30, during the Asian session, by the Australian Bureau of Statistics (ABS) showed that consumer price inflation rose by 1.9% in June year-on-year, compared to 2.1% in May, while expectations were for a steady 2.1%.
Conversely, inflation rose to 2.1% in the second quarter of this year, its lowest rate since March 2021, compared to 2.4% in the second quarter, while expectations were for growth of 2.2%.
In detail, the most significant increases in the index in the second quarter came from the housing sector (2%), food and non-alcoholic beverages (3%), and alcohol and tobacco prices (5.7%). Conversely, the transportation sector declined by -2.6%.