Investing.com – Australian consumer price inflation rose more-than-expected in the first quarter, official data showed on Wednesday.
In a report, the Australian Bureau of Statistics said consumer price inflation rose 1.6% in the first quarter, after advancing 0.4% in the preceding quarter.
Analysts had expected consumer price inflation to rise by 1.2% in the first quarter.
Year-on-year, consumer price inflation rose at an annualized rate of 3.3%, surpassing expectations for a 3.0% gain.
Trimmed mean CPI increased 0.9% in the quarter, after rising 0.3% in the preceding quarter. Analysts had expected trimmed mean CPI to rise 0.7%.
Following the release of the data the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.4% to hit 1.0826.
In a report, the Australian Bureau of Statistics said consumer price inflation rose 1.6% in the first quarter, after advancing 0.4% in the preceding quarter.
Analysts had expected consumer price inflation to rise by 1.2% in the first quarter.
Year-on-year, consumer price inflation rose at an annualized rate of 3.3%, surpassing expectations for a 3.0% gain.
Trimmed mean CPI increased 0.9% in the quarter, after rising 0.3% in the preceding quarter. Analysts had expected trimmed mean CPI to rise 0.7%.
Following the release of the data the Australian dollar was up against its U.S. counterpart, with AUD/USD gaining 0.4% to hit 1.0826.