Australian Annual Inflation Rate Accelerates in August
This morning, Australian inflation figures for August garnered investor interest. Investors expect that the RBA will keep interest rates higher to tame inflation. A pickup in inflationary pressures would support the more hawkish outlook on the RBA interest rate trajectory.
The Australian annual inflation rate accelerated from 4.90% to 5.20% in August. Economists forecast an inflation rate of 5.2%.
According to the Australian Bureau of Statistics (ABS),
- Prices for housing (+6.6%), transport (+7.4%), food and non-alcoholic beverages (+4.4%), and insurance and financial services (+8.8%) were the main contributors to inflation.
- However,…
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