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Inflation eased in July, but home loan relief remains on the cards
Housing was the biggest price driver as the Reserve Bank of Australia kept the cash rate at 4.35% for a second straight meeting.
- Australia's annual inflation rate fell to 3.5 per cent on Wednesday, the Australian Bureau of Statistics reported, down from 3.8 per cent in June but remaining above the Reserve Bank of Australia's target range of 2 to 3 per cent.
- Housing costs remained the primary inflation driver, rising 5.0 per cent over 12 months. Rachael McCririck, ABS head of price statistics, noted new dwelling prices increased 5.7 per cent as builders passed on higher material and labour costs.
- The RBA's preferred trimmed mean inflation held steady at 3.6 per cent, exceeding market expectations of 3.3 per cent. This signals persistent inflationary pressures despite the headline CPI decline.
- Minutes released yesterday showed the RBA board unanimously kept the cash rate at 4.35 per cent. Governor Michele Bullock indicated the hold allows monitoring of prior hikes while the board remains concerned about upside inflation risks.
- Home owners may anticipate potential mortgage relief next month as inflation eases. Bullock made clear that further rate hikes remain on the table if inflation stays above the RBA target.
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Australia July inflation moderates to 3.5% but beats estimates
Australia's annual inflation rate moderated to 3.5% in July 2026 from 3.8% in June, marking its softest reading since November 2025. Despite the slowdown, the print topped market expectations of 3.3% and remained above the Reserve Bank
·Ra'anana, Israel
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Coverage Details
Total News Sources24
Leaning Left22Leaning Right1Center1Last UpdatedBias Distribution92% Left
Bias Distribution
- 92% of the sources lean Left
92% Left
L 92%
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