Australian Economic Comment: CPI preview: still too high. UBSe Q2 trimmed mean lifts 0.95% q/q, while headline CPI eases.

Research evidence excerpt

Australian Economic Comment: CPI preview: still too high. UBSe Q2 trimmed mean lifts 0.95% q/q, while headline CPI eases.

accordance with

the amended US Presidential Executive Order 13959.

United Kingdom: This material is distributed by UBS AG, London Branch to persons who are eligible counterparties or professional clients. UBS AG, London

Branch is authorised by the Prudential Regulation Authority and subject to regulation by the Financial Conduct Authority and limited regulation by the Prudential

Regulation Authority. Europe: Except as otherwise specified herein, these materials are distributed by UBS Europe SE, a subsidiary of UBS AG, to persons who are

eligible counterparties or professional clients (as detailed in the Bundesanstalt fur Finanzdienstleistungsaufsicht (BaFin) Rules and according to MIFID) and are only

available to such persons. The information does not apply to, and should not be relied upon by, retail clients. UBS Europe SE is authorised by the European Central

Bank (ECB) and regulated by the BaFin and the ECB. Germany, Luxembourg, the Netherlands, Belgium and Ireland: Where an analyst of UBS Europe SE has

contributed to this document, the document is also deemed to have been prepared by UBS Europe SE. In all cases it is distributed by UBS Europe SE and UBS AG,

London Branch. Turkey: Distributed by UBS AG, London Branch. No information in this document is provided for the purpose of offering, marketing and sale by

any means of any capital market instruments and services in the Republic of Turkey. Therefore, this document may not be considered as an offer made or to be

made to residents of the Republic of Turkey. UBS AG, London Branch is not licensed by the Turkish Capital Market Board under the provisions of the Capital

Market Law (Law No. 6362).