Australia's CPI Inflation Eases to 3.8% in June, Misses 4% Forecast
Australia's annual CPI inflation rate fell to 3.8% in June from 4.0% in May, coming in below the expected 4.0%. The softer print may reduce pressure on the Reserve Bank of Australia to tighten further.
AUDUSD
According to data released by the Australian Bureau of Statistics (ABS), the Consumer Price Index (CPI) rose 3.8% year-on-year in June, down from 4.0% in May and below the consensus estimate of 4.0%.
The easing headline inflation could fuel expectations that the Reserve Bank of Australia (RBA) might hold its policy rate steady, as price pressures show signs of cooling. Market participants will watch for further data to gauge the central bank's next move.
Source: FXStreet Forex News