Aussie Shares Edge Higher as April Inflation Eases
Cooler-than-expected inflation lifted hopes the Reserve Bank of Australia will hold rates in June as fuel prices fell 7% in April, the Australian Bureau of Statistics said.
- Australia's share market edged higher on Wednesday after April inflation cooled to 4.2 per cent, down from 4.6 per cent in March and below the expected 4.4 per cent, with the S&P/ASX200 rising 8.5 points to 8,667.2.
- Fuel price volatility shaped the backdrop, with automotive costs falling 7 per cent in April after surging 32.8 per cent in March, following the government's April 1 fuel excise halving, while the Reserve Bank has raised rates three times this year to 4.35 per cent.
- Underlying inflation pressures persisted despite headline moderation, with trimmed mean inflation ticking to 3.4 per cent in the 12 months to April from 3.3 per cent in March, remaining outside the central bank's 2-3 per cent target range.
- Consumer discretionary stocks surged 0.8 per cent as rate cut odds eased, though financial stocks fell 1.2 per cent after Westpac slumped 2 per cent following a $26 million regulatory fine.
- Oil price volatility may persist amid Middle East tensions and stalled nuclear negotiations, with shipments through the Strait of Hormuz slowing to a trickle, as global central banks turn hawkish with the European Central Bank expected to hike next month.
15 Articles
15 Articles
Australia headline inflation beats expectations, easing to 4.2%
Australia’s annual consumer price inflation slowed more sharply than anticipated in April, cooling to 4.2% from March's 4.6% print and beating market expectations for a milder drop to 4.4%. According to data released by the Australian Bureau of Statisti
Australian Dollar declines as annual CPI inflation falls in April
AUD/USD extends its gains for the second successive day, trading around 0.7160 during the Asian hours on Wednesday. The pair declines as the Australian Dollar (AUD) loses ground following the release of domestic inflation data. Australian Bureau of Statistics (ABS) showed on Wednesday that Consumer Price Index (CPI) rose 4.2% year-over-year (YoY), down from the market consensus of 4.4%. It came down from 4.6% in the 12 months to March 2026. The …
Coverage Details
Bias Distribution
- 62% of the sources lean Right
Factuality
To view factuality data please Upgrade to Premium
