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Whether you’re enjoying a hearty breakfast you fried up yourself or treating yourself to a morning meal at your favourite coffee spot, chances are you will notice that the cost of your breakfast of champions is leaving you feeling like more of a winner these days.
Despite monthly inflation of 0.9%, annual headline inflation fell to 4.7% in July from 5.4% in June. Once again, this outcome mainly reflects positive base effects from last year’s elevated average price level, which led to a 7.8% peak inflation rate in July 2022.
Consumer price inflation moderated further in July, to 4.7% year-on-year, compared to 5.4% in June. Inflation peaked at 7.8% in July last year and is now comfortably back inside the Reserve Bank’s 3-6% target range.
The Quarterly Labour Force Survey (QLFS) data (a household-based employment survey, not seasonally adjusted) showed that the official unemployment rate fell slightly to 32.6% in 2Q23 from 32.9% in 1Q23.
The strongest deterrent against FSP compliance missteps is or should be: