Australian August monthly CPI 2.7% y/y (expected 2.8%)
The Australian August monthly has came in lower than expected at CPI 2.7% y/y, from 3.5% in July and finally in range of RBA's target. However, most of the moderation comes from government energy rebate and trimmed mean remain above target range at 3.4% y/y. It shows that there are still way to go before a RBA easing.
AUD/USD is trading 0.07% lower at 0.6887, erasing early gains at 0.6908 session high.
