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The Consumer Price Index (CPI) rose 0.4% in September (Q3) as forecast, according to the Australian Bureau of Statistics (ABS).
Australian inflation remains weak, as CPI figures reveal a 0.4% increase, following a rise of 0.4% in Q2.
The figures were below market expectations for an increase of 0.5%, while core inflation in Q3 was forecast to rise by 0.4% quarter to quarter, with annual growth at 1.9%.
The AUD/USD pre-release remained steady at 0.7093 , and dropped fifteen points moments following the release.
IG analyst Kyle Rodda say the CPI generally plays into the Reserve Bank of Australia’s outlook, and these figures shouldn’t shift rate expectations.
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