Inflation falls to 3.5pc in July
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InflationABC
•Inflation falls to 3.5pc in July as energy rebates help to push electricity prices lower
85% Informative
Annual rate of inflation falls to 3.5pc in July , down from 3.8pc in June .
But economists say the slowdown in the pace of inflation last month was largely expected.
Economists say it won't encourage the RBA to cut interest rates any time soon.
Electricity prices were increasing at an annual pace of 7.5% in June , but that quickly fell to -5.1% in July .
The most significant contributors to inflation in July were housing (+4%), food and non-alcoholic beverages (+3.8%) and alcohol and tobacco (+7.2%).
Analysts are dealing with problems with the ABS' monthly inflation data.
The RBA governor has warned people shouldn't take too much "signal" from the monthly inflation indicator anyway.
EY senior economist Paula Gadsby said the data should be read with some caution.
But the first month of the quarter focuses on durable goods prices, rather than services and domestically driven factors.
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