Australia inflation data: moderate increase in July
August 28, 2024
The annual CPI (Consumer Price Index) rose by 3.5% in the 12 months to July, a decline from the 3.8% increase in June. The largest price increases were recorded in housing (+4.0%), food and non-alcoholic beverages (+3.8%), alcohol and tobacco (+7.2%) and transport (+3.4%).
The year-on-year change in the CPI excluding volatile items such as holiday travel eased to 3.7%, down from 4.0% in June.