Australia Consumer Price Index (YoY) (Q2) 5.4% Vs. 5.4% Est.; 5.6% Prior; Consumer Price Index (QoQ) (Q2) 0.8% Vs. 1% Est.; 1.4% Prior
Portfolio Pulse from Benzinga Newsdesk
Australia's Consumer Price Index (CPI) for Q2 came in at 5.4% YoY, matching estimates but slightly lower than the previous 5.6%. The QoQ CPI was 0.8%, lower than the estimated 1% and the previous 1.4%.
July 26, 2023 | 4:39 am
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NEGATIVE IMPACT
The lower than expected QoQ CPI could potentially impact the iShares MSCI Australia ETF (EWA), as it reflects the economic conditions in Australia.
The CPI is a key indicator of inflation and economic health. A lower than expected CPI suggests slower economic growth, which could negatively impact the performance of the EWA ETF that tracks the Australian market.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80