Australia’s inflation rate falls to 3.5% for the year to July as energy bills shrink

Annual CPI rise down in July after the federal government's energy subsidy cut electricity bills by 5%

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Inflation has fallen to its lowest level since March, pulled down by a 5% annual cut to electricity prices as billions of dollars in government rebates kicked in.

Consumer prices rose by 3.5% in the year to July, the Australian Bureau of Statistics said on Wednesday, down from the 3.8% pace recorded in the 12 months to June.

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