Today it was announced Australian Consumer Price Index (CPI), published by the Reserve Bank of Australia (RBA) and republished by the Australian Bureau of Statistics. The data has shown that the CPI year-on-year has fallen to 6.8% in February from 7.4% registered the previous month. This data has come below the expected 7.1%.
About the Consumer Price Index
The Consumer Price Index published by the Reserve Bank of Australia (RBA) and republished by the Australian Bureau of Statistics is a measure of price developments by comparing retail prices of a shopping basket representative of goods and services. The purchasing power of the AUD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is considered positive (or bullish) for the AUD, while a low reading is considered negative (or bearish).
Source: Fx Street
I am Joshua Winder, a senior-level journalist and editor at World Stock Market. I specialize in covering news related to the stock market and economic trends. With more than 8 years of experience in this field, I have become an expert in financial reporting.
