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Chanticleer

A softer CPI is welcome, but inflation fight isn’t over

The latest data may have killed off any faint fear of another rate rise next week, but zoom out and the problem hasn’t gone away.

You’ve got to take the good news where you can find it these days, and Wednesday’s monthly consumer price index data will be sweet relief to households and businesses fearing another rate rise next week.

The monthly CPI indicator came in at 4.9 per cent for July, which was both well down on last month’s 5.4 per cent reading and below market consensus for 5.2 per cent.

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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com

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    Original URL: https://www.afr.com/chanticleer/a-softer-cpi-is-welcome-but-inflation-fight-isn-t-over-20230830-p5e0ph