Aussie inflation accelerates

Australia’s consumer prices rose more than forecast in the second quarter as high cost of food and fuel put pressure on inflation.

Prices rose by 3.6% in the three months to the end of June from the same period last year, latest data showed.

Food prices have been rising due to the devastation caused by floods and cyclones earlier this year.

The Australian dollar hit a record high against the US dollar on concerns that central bank will raise interest rates.

BBC News

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Dean Popplewell

Dean Popplewell

Vice-President of Market Analysis at MarketPulse
Dean Popplewell has nearly two decades of experience trading currencies and fixed income instruments. He has a deep understanding of market fundamentals and the impact of global events on capital markets. He is respected among professional traders for his skilled analysis and career history as global head of trading for firms such as Scotia Capital and BMO Nesbitt Burns. Since joining OANDA in 2006, Dean has played an instrumental role in driving awareness of the forex market as an emerging asset class for retail investors, as well as providing expert counsel to a number of internal teams on how to best serve clients and industry stakeholders.
Dean Popplewell