Lower inflation in Australia

AUSTRALIA - Australia's second-quarter inflation figure has come in slightly lower than expected at 0.7 per cent, reducing the chances of another increase in interest rates next month.

According to data released on Wednesday, the consumer price index rose by 2.8 per cent year on year in the three months to June, below the consensus forecast of 0.8 per cent for the quarter and 2.9 per cent year on year.

This still puts inflation at the top end of the 2-3 per cent target range, but analysts said