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Australian Q1 consumer prices rose 5.1% year on year, above the 4.6% forecast, with trimmed mean inflation at 3.7%, the fastest pace in two decades. The data increased speculation the Reserve Bank of Australia could lift its 0.1% cash rate as soon as its May 3 meeting.
A faster RBA tightening path strengthens the Aussie dollar against the US dollar, which affects Australian import costs and currency-linked demand for feed inputs. Hotter domestic inflation has limited direct grain price impact.
web.archive.orgWayne ColeApr 27, 2022Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
