Australia?s inflation rate decreased to 3.5% for the year ending in July 2024, marking its lowest level since March. This decline comes as energy bills fell by 5%, largely due to the federal government?s energy subsidies. The Australian Bureau of Statistics, also known as ABS, reported that the annual Consumer Price Index (CPI) growth slowed from 3.8% in June to 3.5% in July. The significant drop in electricity prices, driven by government rebates, played a crucial role in this decrease. The introduction of the Commonwealth Energy Bill Relief Fund and additional state-based assistance helped reduce electricity costs, easing financial pressure on households.