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Send  Print  Share  RSS  Twitter  22 Jul 2009

Australia Inflation Slows to Decade Low in Second Quarter

Australian consumer price inflation slowed to it lowest annual pace in a decade last quarter as falls in food and financing costs helped offset increases in health, clothing and rents.

Yet measures of underlying inflation favoured by the Reserve Bank of Australia (RBA) showed domestic price pressures were proving more stubborn than many had hoped, reinforcing speculation the central bank was done cutting interest rates.

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