As noted earlier, Australia’s Consumer Price Index (CPI) came in at 0.8% in the June quarter – slightly above market expectations of a 0.7% rise:
Rebounding after last June’s heavy fall.
Annual CPI surged 3.8% in Q2. However, this rise was driven by the ‘base effect’, since CPI fell by 3.7% in the corresponding Q2 quarter of 2020 (as shown above).
