Australia’s August CPI rises 4.0% year on year, hitting a three-month high
AI Market Summary
Australia's August CPI rose 4.0% y/y, a three-month high, driven by housing (+5.7%), electricity and new dwelling costs, alongside a sharp lift in fuel prices. With trimmed-mean inflation expected to hold at 3.6%, markets focus on sticky underlying pressures. Westpac and ANZ flag a low bar for another RBA hike in November, lifting Australian rates and AUD-sensitive risk pricing.
Impact level
● High
Affected assets
NCFXAUD2USD/USDT-0.33%
AI Insight · NCFXAUD2USD/USDTAI Insight
▼ Bearish
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The Australian Bureau of Statistics reported that Australia’s CPI rose 4.0% year on year in August, a three-month high, led by a 5.7% increase in housing costs alongside higher electricity and new home construction costs. The trimmed mean measure of underlying inflation is expected to hold at 3.6%. Ahead of the release, Westpac had forecast the Reserve Bank of Australia could raise rates again in November to counter persistent inflation pressures.
