‘Dodged a bullet’: inflation eases to 3.8%, reducing chances of interest rate rise for Australia’s mortgage holders

ABS data shows inflation still too high but tracking lower than anticipatedAustralian mortgage-holders have “dodged a bullet’, with the Reserve Bank now less likely to hike rates next month after new data showed inflation unexpectedly eased to 3.8%, in the year to June, from 4%.The hotly anticipated consumer price report from the Australian Bureau of Statistics had been seen by some economists as a “make-or-break” moment ahead of the RBA’s upcoming rate decision on 11 August. Surprisingly soft inflation figures suggest the Reserve Bank will not be lifting interest rates in coming months - and maybe not for the rest of the year.