ABS says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hike Fears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected. Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics. Continue reading...

How each outlet headlined it

• The Guardian left

  ABS says CPI was 3.5% in July, casting doubt on Reserve Bank meeting its 2.5% inflation target without further hike Fears are growing that the Reserve Bank will hit millions of mortgage holders with a fourth rate hike this year, after inflation eased in July but by far less than expected. Consumer prices climbed by 3.5% through the year, down from 3.8% in the previous month, according to the Australian Bureau of Statistics. Continue reading...
• Fox Business Economy right

  The Fed's favored inflation gauge remained well above the central bank's 2% target in July after the Commerce Department released the PCE inflation report.
• CNBC left

  Fed’s preferred inflation gauge shows core prices rose 3.3% annually in July
• MarketWatch

  The main inflation gauge used by the Federal Reserve to set U.S. interest rates rose at a slightly elevated rate in July, leaving it an open question as to whether the central bank will raise interest rates next month.
• The Hill center

  The Federal Reserve’s preferred measure of inflation remained flat in July, according to data from the Bureau of Economic Analysis released Wednesday. The personal consumption expenditures (PCE) price index ticked up 0.2 percent last month, rising 3.7 percent compared to the same time last year. Excluding more volatile food and energy prices, inflation rose 3.3 percent year-over-year in July. This was…
• Bloomberg center

  The Federal Reserve’s preferred inflation metric, the so-called core PCE price index, which excludes food and energy items, rose 0.2% in July and advanced 3.3% from a year ago. Inflation-adjusted consumer spending was flat last month. Michael McKee reports on Bloomberg Television. (Source: Bloomberg)
• Reuters

  US inflation remains sticky in July; 2nd-quarter GDP unrevised at 1.5% reut.rs/3UiMKeM