Three months of surprises, all in the right direction, for onceInflation eased again in June, and economist Matt Bell says it changes the RBA’s next move. Underlying inflation, the measure the RBA watches most closely, stayed flat at 3.6%, again below the 3.7% consensus forecast. Zoom in on just the past six months and underlying inflation is actually tracking closer to 3.2%. Joel Gibson, Consumer Finance Expert at Zyft, says the 3.8% number simply confirms what households have been living through for months. “The market is clearly cooling, and likely will be until the outlook for rates stabilises, even if that doesn’t mean cuts for potentially 12 months,” Bell said.