The monthly Consumer Price Index (YoY), released by the RBA and republished by the Australian Bureau of Statistics has arrived as follows:
AUD/USD is rallying hard to a fresh bull cycle high near 0.7080.
This is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The purchasing power of AUD is dragged down by inflation. The CPI is a key indicator to measure inflation and changes in purchasing trends. A high reading is seen as positive (or bullish) for the AUD, while a low reading is seen as negative (or bearish). Note: This indicator started to be published in 2022 and it updates the price change for the last 12 months in Australia in a monthly basis, instead of the quarterly period of the main Australian CPI.
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