Australian consumer price inflation slowed to a three-year low in August thanks to government rebates on electricity and a drop in petrol, while core inflation hit its lowest level since early 2022 in a sign costs

By Stella Qiu SYDNEY (Reuters) -Australian consumer price inflation slowed to a three-year low in August thanks to government rebates on electricity, while core inflation hit its lowest since early 2022 in welcome progress that could open the door to rate cuts.

Australia’s headline inflation rate fell within the Reserve Bank of Australia’s target band for the first time since 2021 in August, but economists warn that this won’t trigger an immediate interest-rate cut.