The Reserve Bank of Australia (RBA) published data on its producer price index (PPI) this morning revealing solid inflationary growth. Expectations for the quarterly figure were for a mild 0.7% on both the nominal reading and its trimmed mean (i.e. core) counterpart.
Actual results from the morning’s data, however, underscored the growth experienced in the Pacific economies of Australia and New Zealand recently. The data produced solid 0.9% growth on the two indices, climbing above forecasts and helping the Australian dollar (AUD) hold steady in early morning trading.
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