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July inflation gauge hits 20-year record

August 2, 2022 - 10:00 -- Admin

The Melbourne Institute’s monthly inflation gauge rose by 1.2% in July. It’s headline inflation rate was 5.4%, while the Reserve Bank’s preferred measure of underlying inflation rose by 0.9% during the month to be 3.9% higher in the year to July. It was the highest rate of inflation recorded by the index in two decades.

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