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Australian CPI rose by 0.5%

Wednesday, Oct 28 2015
Australian CPI rose 0.5% this quarter, compared with a rise of 0.7% last quarter. Analysts were predicting 0.7% increase. It rose 1.5% over the twelve months to September quarter 2015, compared with a rise of 1.5% over the twelve months to the June quarter 2015. Trimmed Means CPI also missed expectations on 0.5% incline, and rose only by 0.3%.
 
The most significant price rises this quarter are international holiday travel and accommodation (+4.6%), fruit (+8.2%) and property rates and charges (+4.6%). The most significant offsetting price falls this quarter are vegetables (-5.9%), telecommunication equipment and services (-2.0%) and automotive fuel (-1.7%).
 
Aussie sharply fell after the data and is currently being trade around 0.7120 level. Pair is likely to find support around 0.7080 level and resistance above 0.7180 area. Later today, in the US session, FOMC interest rate decision and the following statement are scheduled for a release.
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