Moody's: Overall inflation in Australia is expected to increase slightly.

Moody's Analytics stated in a report that it is expected the overall year-on-year inflation rate in Australia to increase slightly from 2.8% in July to 2.9% in August. The agency mentioned that while the reinstatement of electricity subsidies in New South Wales and the Australian Capital Territory may provide some relief for inflation, pressure on housing, food, and services prices will continue to exist. Australia's month-on-month inflation rate rose to the highest level in a year in July, confirming the cautious approach of the Reserve Bank of Australia in recent months regarding interest rate cuts. The CPI data for August will be released on Wednesday.