Waning inflation is a sign of an economy under pressure

Consumer inflation will be the most important economic data release of the week. Most economists expect the headline figure to have dipped just below the midpoint of the Reserve Bank’s inflation target range, but a surprise drop cannot be ruled out.

London-based Capital Economics is putting its head on a block, forecasting that consumer inflation fell to a six-month low of 4.0% in July, having averaged 4.4% over the past quarter.A subscription helps you enjoy the best of our business content every day along with benefits such as exclusive Financial Times articles, Morningstar financial data, and digital access to the Sunday Times and Times Select.

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