India, Aug. 27 -- Australia's consumer price inflation accelerated more than expected to a one-year high in July, indicating a more gradual approach to monetary policy easing.
The CPI indicator advanced 2.8 percent year-on-year in July, following June's 1.9 percent rise, the Australian Bureau of Statistics reported. This was the strongest since July 2024, when inflation was 3.5 percent and also remained above economists' forecast of 2.3 percent.
Data showed that housing, food and non-alcoholic beverages and alcohol and tobacco prices provided the largest positive contribution to the annual inflation.
Reflecting increases in electricity costs, housing inflation rose to 3.6 percent from 1.6 percent. The annual increase in food and non-alco...