Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing.
The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024, when inflation was 3.5 percent and also remained above economists' forecast of 2.3 percent.
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June 12, 2026 17:14 ET Major central bank action was the focus this week in economic news. The European Central Bank became the first major central bank to move in response to the rising inflationary pressures in the backdrop of the conflict in the Middle East. In North America, the U.S. inflation and trade data as well as Canada’s central bank decision gained attention. The Chinese trade data was the main news in Asia.