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The Melbourne Institute (MI) released its monthly inflation data for Australia on Monday. MI Inflation gauge for Australia declined 0.2% in May, after a 0.1% rise in April.
On a yearly basis, inflation gauge climbed 1.0% in May, after a 1.5% increase in April.
Prices for fruit and vegetables slid 4.1% in May, nondurable household products prices declined 2.2%, while prices for holiday travel and accommodation fell 1.0%.
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