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.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.