FLAU - Australia's monthly inflation rate accelerates to 4.0% in May highest in six months
2024-06-26 03:14:50 ET
- Australia’s Monthly CPI Indicator increased by 4% in May, accelerating from 3.6% in April and exceeding market expectations of 3.8%. The latest figure was also the highest since November last year.
- The inflation remained outside the RBA's target range of 2-3%.
- The monthly CPI indicator excluding volatile items and travel climbed by 4.0% in May, easing from a 4.1% rise in April.
- The S&P/ASX 200 Index fell 0.62% to close at 7,790.5 on Wednesday, giving back most of the gains from the previous session as investors shrugged off an unexpectedly high inflation rate in Australia, which raised fears that interest rate cuts would be delayed.
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