The Consumer Price Index (CPI), which measures inflation in Australia, recorded a growth of 0.8% in the second quarter of this year ending last June, according to data issued by the Australian Statistics Office this morning, Wednesday, July 28 (July), compared to 0.6% in the first quarter to come with the best From market expectations that indicated a rise to 0.7%, the annual index rose by 3.8% compared to the same period last year, recording the highest reading of the index since 2008.
In the details of the index, the food and non-alcoholic beverages index rose by 0.5% in the second quarter and by 0.7% on an annual basis, the motor fuel price index recorded an increase of 6.5%, while the alcohol index rose by 0.4% in the second quarter and by 6.7% on an annual basis.
The Australian dollar is trading at 0.7348 levels against the US dollar, after testing 0.7378 levels after the inflation data was announced.
07/11/2024
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