Australia’s consumer price index (CPI) rose 2.9 percent in the first quarter from the year-ago period, data showed on Wednesday, lower than the 3.2 percent a Reuters poll had forecast.
The CPI rose 0.8 percent on a month-on-month basis, compared to a Reuters forecast for a 0.6 percent rise.
The Australian dollar swiftly fell 0.4 percent against the dollar following the weaker-than-expected inflation data, as the figures lower the prospect of a potential rate hike by the Reserve Bank of Australia.
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