# Australia inflation quickens to 5-month high, sounding rate alarm

> Australian monthly CPI rose 3.6% year on year in April, up from 3.5% in March and above the 3.4% forecast, a five-month high driven partly by petrol, health and holiday costs. The Australian dollar barely moved, rising about 0.1% to 0.6657, and bond futures fell.

- Date: 2024-05-29 · published 2024-05-29T12:00:00.000Z
- Category: macro · region Australia · magnitude low
- Page: https://feedsoft.ai/events/30528-australia-inflation-quickens-to-5-month-high-sounding-rate-alarm
- Commodities: [Australian Dollar (USD per AUD)](https://feedsoft.ai/c/AUDUSD.md)

## Why it matters

Sticky inflation reduces the chance of near-term RBA rate cuts, which supports the Aussie dollar modestly. For feed buyers the direct grain price effect is negligible.

## Read by commodity

- AUDUSD: neutral

## Sources

- reuters.com: https://www.reuters.com/markets/australia-consumer-inflation-surprises-high-side-april-2024-05-29/

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.