Aussie Inflation Concerns Mount Ahead of Crucial Data Release

The Reserve Bank of Australia (RBA) is facing growing concerns over inflation levels, which have remained above target since the COVID-19 pandemic.

Employment Minister Amanda Rishworth acknowledged that inflation is 'running higher than we'd like', while RBA governor Michele Bullock expressed concern about the prolonged period above target.

The June quarter data release on Wednesday is expected to show trimmed mean inflation at 3.7 per cent, which will be closely watched by the central bank ahead of its next board meeting in early August.

Bullock said that if global headwinds persist and expectations of price pressures become ingrained, it could make the RBA's job of bringing inflation under control even harder.