Treat today's inflation data from Australia as a guide only. Monthly readings are not as reliable as quarterly readings. Indeed, Reserve Bank of Australia Governor Bullock earlier this week:
Will still rely very heavily on the quarterly Australian CPI reportThe monthly CPI data from Australia does not show all components of the CPI, that'll have to wait for the quarterly data release (late in October).
Having said all that, its expected higher in August than in July. Which is not an an encouraging sign, at the margin, for continued rate cuts.
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