Economic Buzz: Australia inflation down from 0.3% to 0.4% in May

Australia's consumer price index (CPI) rose 0.4% month-on-month in May, the Australian Bureau of Statistics reported on Wednesday.

That marked a slightly faster pace compared with the 0.3% monthly gain recorded in April.

On a yearly basis, inflation rose to 3.6% in May, up from the 3.4% annual increase reported in April.

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