A 4% annual CPI print would match May’s reading and may support the Australian dollar if exceeded.
Australia’s June Consumer Price Index will be released by the ABS at 01:30 GMT on Wednesday. Economists expect annual inflation to hold steady at 4%, unchanged from May’s reading. The monthly CPI is projected to rise 0.2%, recovering from a -0.7% decline in the prior period.
May’s 4% annual inflation marked a slight easing from April’s 3.6% but remained above the Reserve Bank of Australia’s target range. A stronger-than-expected print could reinforce expectations for tighter monetary policy, while a miss may weigh on the Aussie dollar.
Markets will watch the release closely for signs of persistent price pressures, with implications for the RBA’s next policy moves.