Surprise inflation fall eases RBA rate hikes risk
FALLING inflation levels have defied Reserve Bank predictions, alleviating fears another interest-rate hike is imminent. The latest Australian Bureau of Statistics data showed headline annual inflation falling to 3.8 per cent in June, down from four per cent a month earlier. The figure is the lowest level since the outbreak of the US-Iran war in February. Trimmed mean inflation, the preferred measure for the RBA, remained steady at 3.6 per cent, falling below the central bank’s prediction of 3.8 per cent for the period. Quarterly figures showed headline inflation falling fro