Australia’s November CPI comes in at 4.3% YoY vs. 4.4% expected

Haresh Menghani FXStreet

The latest data published by the Australian Bureau of Statistics (ABS) on Wednesday showed that the nation’s Consumer Price Index (CPI) decelerated from the 4.9% YoY rate to 4.3% in November. The reading was slightly lower than the consensus estimates for a reading of 4.4%.

Market reaction

The AUD/USD pair reacts little to the monthly data, which does not show all components of the CPI included in the quarterly report. Inflation figures for the October - December 2023 quarter will be published on January 31 2024 and will play a key role in influencing the Reserve Bank of Australia's (RBA) policy decision.

Author

Haresh Menghani

FXStreet

Haresh Menghani is a detail-oriented professional with 10+ years of extensive experience in analysing the global financial markets.

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