Reported 8 months ago
Australia's inflation accelerated faster than expected for a third consecutive month in May, exceeding economists' estimates. This increase raises the possibility of the Reserve Bank of Australia (RBA) resuming interest rate hikes at its next meeting. The data showed a 4% rise in the monthly consumer price indicator from a year earlier, leading to a boost in the Australian dollar and higher expectations of a rate hike at the RBA's upcoming meeting in August.
Source: YAHOO