Australia May CPI Expected to Show Accelerated Inflation

The Australian Bureau of Statistics (ABS) is set to publish the high-impact Consumer Price Index (CPI) for May on Wednesday at 01:30 GMT. Market expectations point to an acceleration in inflation from the previous month, which could reinforce the Reserve Bank of Australia's hawkish stance. A higher-than-expected reading may increase pressure for further rate hikes, while a softer print could relieve some tightening bets. Traders should watch for volatility in AUD pairs around the release.