Australia CPI Slows to 4.0% in May, Below Forecasts
Australia's annual CPI eased to 4.0% in May, missing the 4.4% consensus estimate and down from 4.2% in the prior month.
AUDUSD
The Australian Bureau of Statistics reported that the Consumer Price Index rose 4.0% year-on-year in May, down from 4.2% in April and below the 4.4% expected by economists.
The softer-than-expected reading suggests inflationary pressures are moderating, which may reduce the urgency for further Reserve Bank of Australia rate hikes.
Month-on-month data was not provided in the release.
Source: FXStreet Forex News