Forex News Tentative signs now emerging that demand-driven inflation in Australia may have peaked, with slight downward risk to 2Q CPI, says Westpac Chief Economist Bill Evans; "it appears the demand driven upward push to inflation has peaked out." Notes softer than forecast 2Q PPI came on back of higher petrol costs not feeding through, coupled with weaker than expected construction costs. "It would appear we are starting to see some evidence that the slowing in the housing market in particular is starting to put some downward pressure on inflation."
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