Could the May inflation results affect interest rates? | The Business | ABC NEWS

Headline inflation has eased more than expected in May.

Figures from the Australian Bureau of Statistics show the consumer price index rose 4% in the 12 months to May, down from 4.2% in April.

The trimmed mean, a measure of underlying inflation preferred by the Reserve Bank, rose to 3.6% in May, up from 3.4% in the year to April.

The Reserve Bank targets inflation between 2% and 3% and will next meet in August.

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