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Australia CPI rises, putting pressure on the Australian dollar

The ABS said Australia’s monthly CPI increased 0.4% in August, after a 1.0% rise in July, while AUD/USD was down 0.25% to 0.6970.

Reported · Written up by our desk · Major Pairs

Australia’s Consumer Price Index rose to 4.0% year-over-year in August, up from 3.5% in July, according to data published by the Australian Bureau of Statistics, as reported by FXStreet.

FXStreet also cited a 0.4% month-on-month increase in the CPI for August, following a 1.0% rise in July, and said the trimmed mean CPI rose 0.2% month-on-month and 3.6% year-over-year.

Following the release, FXStreet reported that the Australian dollar drew some selling and that AUD/USD fell 0.25% on the day to trade at 0.6970 at the time of the update.

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