2020.07.2901:45:00UTC+00Australia Inflation Slips 0.3% On Year In Q2

Consumer prices in Australia were down 0.3 percent on year in the second quarter of 2020, the Australian Bureau of Statistics said on Wednesday.

That beat expectations for a drop of 0.4 percent following the 2.2 percent increase in the previous three months.

On a quarterly basis, consumer prices sank 1.9 percent - again exceeding expectations for a fall of 2.0 percent after adding 0.3 percent in the three months prior.

The Reserve Bank of Australia's trimmed mean was down 0.1 percent on quarter and up 1.2 percent on year, while the weighted mean gained 0.1 percent on quarter and 1.3 percent on year.