Grapevine

By Cnbc
Aug 28, 2024

Asia-Pacific markets mixed as Australia reports higher-than-expected inflation

The Melbourne skyline is reflected in the Maribyrnong River in the early morning light on April 18, 2023.

Asia-Pacific markets were mixed, as investors assessed Australia's July inflation numbers, which came in higher than expected.

Australia's CPI rose 3.5% year on year, slightly above the 3.4% expected by economists polled by Reuters and compared to 3.8% in June. The latest CPI figure is the lowest since March.

Minutes of the Reserve Bank of Australia's last meeting revealed that the central bank had considered raising interest rates as it strives to tame inflation.