Australian Inflation Slows to 3.8% in June

Australia's inflation rate slowed to 3.8% in June, according to the latest report from Action Forex. This is down from 4.1% in May and represents a decrease of -0.3 percentage points.

The quarterly figures showed that headline CPI fell by 0.1% quarter-over-quarter (qoq), while annual headline inflation slowed to 3.8%. The Reserve Bank of Australia's preferred measure, quarterly trimmed mean inflation, rose 0.8% qoq and 3.6% year-over-year (y/y).

The monthly CPI indicator also reinforced the message that price pressures are easing. Headline CPI slowed from 4.0% yoy in May to 3.8% yoy in June, while monthly trimmed mean inflation held steady at 3.6% yoy.