India, July 29 -- Australia's inflation rate eased more than expected in the June quarter, reducing concerns of an immediate interest rate hike by the Reserve Bank of Australia (RBA). While inflation remains above the central bank's target, the latest Consumer Price Index (CPI) data has improved hopes that borrowing costs may remain unchanged in the coming months.

What Did Australia's Latest Inflation Data Show?

The Australian Bureau of Statistics reported that headline inflation eased to 3.8% in the year to June, down from 4.0% recorded in May. The figure was also lower than market expectations, offering some relief after months of persistent inflation.

The trimmed mean, which is the Reserve Bank of Australia's preferred measure of un...