Inflation Crawling Lower (For Now), But....

The monthly CPI indicator rose 4.9% in the twelve months to July compared with 5.4% last month. The CPI excluding volatile items was at 5.8% compared with 6.1% last month and the annual trimmed mean was 5.6% compared with 6% last month. So Annual price rises continue to ease from the peak of 8.4 per cent in December 2022. The most significant contributors to the July annual increase were Housing (+7.3 per cent) and Food and non-alcoholic beverages (+5.6 per cent). Reducing the July increase were price falls for Automotive fuel (-7.6 per cent) and Fruit and vegetables (-5.4 per […]