Melbourne Institute's Monthly Inflation Gauge Falls in June

The Melbourne Institute monthly inflation gauge declined again in June following consecutive increases in March and April, driven mainly by lower transport costs, particularly reduced fuel prices, the institute said in a Monday report. The monthly cost of living decreased for three of the five selected household types, including age pensioners, other government transfer recipients, and pensioners and beneficiaries, the report said. Annual headline inflation, as measured by the inflation gauge, stood at 3.9%. The gauge estimates month-to-month price movements for a wide-ranging basket of goods and services across the main capital cities of Australia.