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Australia Consumer Prices Fall the Most On Q2

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Consumer prices in Australia declined by 0.3% year-on-year in Q2 2020, compared with market consensus of a 0.4% fall and after a 2.2% rise in the prior quarter. This was the first drop in consumer prices since Q3 1997.

On a quarterly basis, consumer prices dropped by 1.9% in Q2, the largest quarterly fall in the 72-year history of the CPI.