Australia CPI Inflation Slows to 3.8% in June, Below Forecasts
Australia's annual inflation rate fell to 3.8% in June, coming in below the expected 4% and down from 4% in May.
AUDUSD
The Australian Bureau of Statistics reported that the Consumer Price Index rose 3.8% year-on-year in June, undershooting market expectations of a 4% increase. This marks a slowdown from the 4% pace recorded in May.
The softer-than-expected reading suggests price pressures are easing more quickly than anticipated, potentially reducing the urgency for further monetary tightening by the Reserve Bank of Australia. The data may weigh on the Australian dollar as rate-hike bets fade.
Source: FXStreet Forex News