Inflation drops to 3.5 per cent for the month of July, ABS

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Inflation drops to 3.5 per cent for the month of July, ABS

Inflation has eased to 3.5 per cent, raising hopes a cash rate cut could be in the cards sooner rather than later.

Wednesday’s monthly July Consumer Price Index (CPI) revealed a drop from the 3.8 per cent recorded in June, and will be the only inflation update before the Reserve Bank’s next cash rate meeting on September 24.

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