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The monthly consumer price index now sits at 5.60% in the 12 months to May. This is a decrease from 6.80% recorded in March. Housing inflation once again outpaced the CPI all groups rate, at 8.40% in the same period.

With the RBA set to meet again on Tuesday the 4th of July, how do you predict this data will impact their decision?

Source: ABS Monthly Consumer Price Index Indicator May 2023