Australia's Consumer Price Index (CPI) rose 0.2% QoQ in the fourth quarter (Q4) of 2024, compared with the 0.2% increase seen in the third quarter, according to the latest data published by the Australian Bureau of Statistics (ABS) on Wednesday. The market consensus was for a growth of 0.3% in the reported period.

The Australian monthly Consumer Price Index is foreseen at 2.5% in December.

Quarterly CPI inflation expected to ease further below 3%, with core figures nearing RBA's goal.

The Reserve Bank of Australia will meet on February 18 to decide on monetary policy.

The Australian Dollar falls ahead of the announcement amid prevalent risk aversion.

Australia will release fresh inflation-related data on Wednesday, and financial markets anticipate price pressures eased further at the end of 2024, paving the way for a Reserve Bank of Australia (RBA) interest rate cut when it meets in February. 

Source: FXStreet