Australian CPI weaker-than-expected

FXStreet (Bali) - Australian CPI (QoQ) (Q1) came at +0.6% vs +0.8% expected and +0.8% last, with the yearly reading for Q1 at +2.9% vs +3.2% expected and +2.7% last.

Meanwhile, the RBA trimmed mean CPI (QoQ) (Q1)stood at +0.5% vs +0.7% expected and +0.9% last, with the annual print for Q1 came at +2.6% vs +2.9% expected and +2.6% last.

The data is a negative input for the Aussie, as it takes pressure off the RBA to tighten its bias.