Mumbai, Aug. 28 -- Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing.
The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported.
Data showed that housing, food and non-alcoholic beverages and alcohol and tobacco prices provided the largest positive contribution to the annual inflation.
Reflecting increases in electricity costs, housing inflation rose to 3.6 percent from 1.6 percent. The annual increase in food and non-alcoholic beverages came in at 3.0 percent compared to 3.2 percent a month ago.
Excluding volatile items and holiday travel, inflation...