Australia’s inflation cooled slightly to 3.8% in June, the lowest since February, but remains stubbornly above the RBA’s 2-3% target for 11 straight months. Core inflation stays high at 3.6%, driven by soaring housing costs (up 6.8%), education (4.8%), and services (4%). Goods rose more modestly at 3.5%, though clothes and shoes jumped 4.9%. The data, collected just before fuel tax relief was halved, hints at a looming price rebound — putting the RBA under renewed pressure to consider another rate hike.
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