Inflation slows to 3.5pc, Woolworths profit slumps, ASX recovers from earlier drop — as it happened

Inflation has slowed to 3.5 per cent in the year to July, the latest data from the Bureau of Statistics has revealed, while Woolworths’ annual profit plunged 93 per cent due to a massive write-down in the value of its New Zealand supermarkets, and the Australian share market recovered from its earlier drop. Inflation has slowed to 3.5 per cent in the year to July, the latest data from the Bureau of Statistics has revealed, while Woolworths’ annual profit plunged 93 per cent due to a massive write-down in the value of its New Zealand supermarkets, and the Australian share market recovered from its earlier drop. Stock Market, Financial Markets, Currency, Company News, Business, Economics and Finance, Economic Trends, Cryptocurrency Latest business news