Australia's Inflation Rate Eases Slightly, Leaving Interest Rates on Hold

The latest inflation data from Australia has revealed that prices rose by 3.5% in the year to July, down from 3.8% in the previous quarter.

This is lower than predicted, but still a significant increase for consumers.

The Reserve Bank of Australia's preferred measure of underlying inflation, the trimmed mean, was unchanged at 3.6%, indicating that prices are not showing signs of easing.

Wages growth remains sluggish, lagging behind price increases by 0.5 percentage points, putting pressure on households to make ends meet.