Australian data - private inflation survey for July comes in at 0.4% m/m and 2.8% y/y

Australia Melbourne Institute Inflation for July 2024

0.4% m/m

• prior 0.3%

2.8% y/y

• prior 3.2%

Core (trimmed mean) monthly inflation came in at +0.1% in July, which is its slowest pace since February this year. For the y/y core:

• 2.6% in July, from 3.0% in June
• slowest since April 2022