Australian Dollar Falters as CPI Hits 4.0%

Australia's Consumer Price Index (CPI) rose to 4.0% in August, up from 3.5% in July, according to data released by the Australian Bureau of Statistics.

The August figure matched market forecasts and represents a 0.4% monthly increase, following a 1.0% rise in the previous period.

The trimmed mean CPI, a core gauge that excludes volatile items such as food and fuel, rose 3.6% year on year, up from 2.8% in July, with a 0.2% month-on-month increase.

The Australian dollar weakened after the release, with AUD/USD down 0.25% at 0.6970.