Australia's Inflation Drop May Be Short-Lived as Iran War Restart Threatens Fuel Price Rebound

Australia's annual CPI eased to 3.8% in June, partly on a 10.9% fuel price fall driven by Middle East stabilisation. The Guardian reports that trend will reverse after the Iran war restart, risking a worse print at the August 26 CPI release. Annual trimmed mean inflation already rose to 3.6%, and homebuilding costs hit a three-year high, signaling domestic pressures persist beneath the headline.