CANBERRA, ACT, July 29 -- The Treasurer of Australia issued the following media release:
New data from the Australia Bureau of Statistics shows headline inflation moderated in both monthly and quarterly terms and monthly trimmed mean was steady.
This means that inflation has come in lower than expected, lower than forecast in the Budget or by the Reserve Bank.
This is the third consecutive month where annual headline inflation has moderated.
It's an encouraging outcome that shows we've made progress on inflation since the Budget, even in the face of intense global uncertainty.
The Treasury, the Reserve Bank and others forecast headline inflation to be in the high fours and even fivepercent, but today it has come in at 3.9percent, and t...