Australia’s inflation rate has fallen sharply, boosting expectations for another interest rate cut by the Reserve Bank of Australia (RBA) next month. The monthly consumer price index (CPI) dropped to 2.1% in the year to May, down from 2.4% in April, according to data released by the Australian Bureau of Statistics. The key measure of underlying inflation – the trimmed mean – decreased to 2.4% from 2.8%, reaching its lowest level since November 2021. This places inflation comfortably within the RBA’s target range of 2-3%, strengthening the case for further monetary easing. Market expectations for a July rate cut have … Continue reading Australia’s Inflation Drops to 2.1%: Markets Price 94% Chance of July RBA Rate Cut as Rental Growth Cools