Australia’s Consumer Price Index (CPI) has shown a decline, with the inflation rate falling to 3.5% in July 2024 from 3.8% in the previous month of June 2024. This data, updated on August 28, 2024, provides a year-over-year comparison, highlighting a slight easing in the country’s inflationary pressures.The CPI indicator is a critical measure of inflation, reflecting the annual change in prices for a basket of goods and services. The drop from June’s 3.8% to July’s 3.5% suggests that the Australian economy is experiencing moderated price increases compared to the same period last year.This latest update is an encouraging sign for policymakers and consumers alike, as it suggests that recent efforts to curb inflation may be starting to take effect. Continued monitoring of the CPI will be essential in the coming months to understand if this trend persists and to inform future economic decisions.The material has been provided by InstaForex Company – www.instaforex.com
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