Australian Dollar Eases as August CPI Hits 4.0%

Australia's Consumer Price Index (CPI) accelerated to 4.0% in August, according to the Australian Bureau of Statistics.

This marks an increase from July's 3.5%, and matches market forecasts.

The trimmed mean CPI, a core measure that excludes volatile items like food and fuel, rose 0.2% month on month and was up 3.6% year on year.

The Australian dollar weakened in response to the data release, with AUD/USD down 0.25% at 0.6970.