Australian Inflation Cools, Raising Rate Cut Expectations

Inflation in Australia slowed down, meaning prices aren't rising as fast.

This makes it more likely the country's central bank will lower interest rates in August.

Lowering rates can help the economy grow.

The slowdown in inflation was seen across different areas like housing and services.

Experts predict the central bank may cut rates to support economic growth because of slower economic momentum and a rise in unemployment.