Economic Buzz: Australia inflation down from 3.8% to 3.5% in July

Australia's consumer price index (CPI) rose 3.5% on an annual basis in July, down from the 3.8% annual inflation rate reported in June, the Australian Bureau of Statistics reported on Wednesday.

On a monthly basis, consumer prices rose 1.0% in July, after falling 0.1% month on month in June. On a seasonally adjusted basis, the CPI increased 0.6% on a monthly basis.

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