SYDNEY, July 31 (Reuters) - Australian consumer price inflation accelerated in the June quarter as housing and food costs climbed, but core inflation surprised on the downside and greatly lessened the risk of another rise in interest rates.
Data from the Australian Bureau of Statistics on Wednesday showed the consumer price index (CPI) rose 1.0% in the June quarter, matching market forecasts.
The annual pace of CPI inflation picked up to 3.8%, from 3.6%, as expected. For June alone, the CPI also rose 3.8% compared to the same month a year earlier.
A closely watched measure of core inflation, the trimmed mean, rose 0.8% in the second quarter, under forecasts of 1.0%. The annual pace slowed to 3.9%, from 4.0%, the lowest since early 2022.
