Australia's consumer price inflation dropped to a three-year low in August, thanks to government electricity rebates and a decrease in petrol prices. The annual CPI rose by 2.7%, down from 3.5% in July, matching market expectations. Core inflation, measured by the trimmed mean, fell to 3.4% from 3.8%, still above the Reserve Bank of Australia's 2-3% target range. This indicates costs are cooling gradually but may delay potential interest rate cuts.
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