Australia’s Q2 CPI print was “a touch softer” than anticipated, according to Reserve Bank of Australia Assistant Governor Sarah Hunter. She noted that headline inflation continues to moderate, but underlying price pressures—especially in housing and services—remain stubborn. Hunter also highlighted that the labour market is still tight, underpinning strong wage growth, and reiterated that monetary policy is aimed chiefly at managing demand, rather than addressing supply-side cost factors such as energy and housing.