# Australia’s inflation rate falls to 3.5% for the year to July as energy bills shrink

> Australia's consumer price inflation slowed to 3.5% in the year to July from 3.8% in June, according to the Australian Bureau of Statistics. The drop was driven by a 5% annual fall in electricity prices after government energy bill rebates.

- Date: 2024-08-28 · published 2024-08-28T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/29058-australia-s-inflation-rate-falls-to-3-5-for-the-year-to-july-as-energy-bills
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Lower headline inflation reflects energy subsidies rather than weaker demand, so it has little direct effect on feed or grain prices.

## Sources

- theguardian.com: https://www.theguardian.com/business/article/2024/aug/28/australia-inflation-rate-falls-today-cpi-interest-rates-rba

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.