Australia’s Less-Than-Forecast Inflation Is RBA ‘Vindication’
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Australian consumer prices rose less than forecast last quarter, driving down the nation’s currency as traders unwound bets the central bank will raise interest rates next week.
The consumer price index rose 0.7 percent from the second quarter, the Bureau of Statistics said in Sydney today. That was less than the 0.8 percent median estimate in a Bloomberg News survey of 24 economists. The central bank’s measures of core inflation showed annual price increases slowed last quarter.