The consumer price index indicator advanced 2.1%, compared with economists’ estimate of a 2.3% gain. — Bloomberg
SYDNEY: A gauge of Australia’s monthly inflation cooled faster than anticipated in May, moving close to the bottom of the Reserve Bank of Australia’s (RBA) 2% to 3% target and bolstering the case for further interest rate cuts.
The consumer price index indicator advanced 2.1%, compared with economists’ estimate of a 2.3% gain, data released by the Australian Bureau of Statistics (ABS) showed yesterday.
