Xiao Mo: Australia's CPI index supports the need for the central bank to further cut interest rates.

Ben Jarman, chief economist at J.P. Morgan, said that Australia's April CPI data, to be released on Wednesday, could show a year-on-year increase of 2%, the weakest inflation result since October last year. Government electricity subsidies will once again help reduce household out-of-pocket electricity costs. In other categories, Jarman expects prices for food, clothing, and health products to rise slightly, while prices for transportation, communication, and furniture are expected to decrease slightly. He added that the inflation outlook remains consistent with the two further rate cuts in August and November.