Australian Inflation Accelerates, Paring RBA Rate-Cut Bets
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Australian consumer prices gained more than economists forecast last quarter, sending the nation’s currency higher as investors pared bets the central bank will cut interest rates.
The trimmed mean gauge of core prices rose 0.7 percent from the previous quarter, the Bureau of Statistics said in Sydney today, compared with the median forecast of 26 economists for a 0.6 percent gain. The consumer price index advanced 1.4 percent from the previous three months, compared with a forecast 1 percent increase.