Published • loading... • Updated
'Softer than We Thought': RBA's Admission on Inflation
The Australian Bureau of Statistics said prices fell 0.1% in June as petrol dropped 10.9%, easing pressure on the Reserve Bank.
- On Thursday, July 30, 2026, the Australian Bureau of Statistics reported annual headline inflation fell to 3.8% in June, down from 4% in May, with overall prices decreasing 0.1%.
- Underlying inflation remained flat at 3.6% in June, the Reserve Bank's preferred measure, indicating persistent price pressures despite the headline decline.
- Petrol prices fell 10.9% in June while housing costs rose 6.8%, the biggest contributor to inflation; ABS head of price statistics Rachael McCrick noted fuel excise relief also helped moderate transport costs.
- Following the data release, the Australian dollar dropped to US69.5 cents on Wednesday, reflecting diminished expectations for an August rate hike as economists suggest the Reserve Bank may hold rates steady.
- Fuel excise relief measures will end this Sunday, Treasurer Jim Chalmers warned, emphasizing that inflation remains higher than desired and requires ongoing vigilance despite the recent decline.
Insights by Ground AI
13 Articles
13 Articles
June CPI Fell, but Inflation Was Still 3.5%
June finally brought a clear break in the monthly inflation numbers. The Consumer Price Index fell 0.4 percent after seasonal adjustment, the biggest one-month decline since April 2020. That is real relief, and the Trump administration is entitled to point to it. It is not the same thing as saying inflation is gone. Prices were...
Coverage Details
Total News Sources13
Leaning Left3Leaning Right4Center2Last UpdatedBias Distribution45% Right
Bias Distribution
- 45% of the sources lean Right
45% Right
L 33%
C 22%
R 45%
Factuality
To view factuality data please Upgrade to Premium
