CANBERRA, ACT, Aug. 26 -- The Treasurer of Australia issued the following media release:
New data from the Australian Bureau of Statistics shows inflation moderated in July.
Headline inflation has now fallen for four consecutive months.
This is a promising result in the face of all of this global uncertainty but we know people are still under pressure.
Inflation has come down considerably, it's already substantially lower than forecast at Budget time, but we know it's still too high and it will bounce around in the coming months on its way back to the target range.
Inflation data is even more volatile than usual given movements in fuel and the impact of energy rebates, and the ongoing impact of the war in the Middle East.
Inflation ro...