Australian consumer prices grew at the slowest pace in over four years in the June quarter, data showed on Wednesday, while core inflation hit a fresh three-year low and cemented market wagers for a cut in interest rates next month.

Australia’s headline inflation rate in the second quarter of the year slipped to its lowest point since March 2021, coming in at 2.1% year over year, compared to 2.4% in the preceding period. This was lower than the 2.