Australians see inflation dropping to 2.5% in the 12 months through the end of December, a low last seen in late 2003. Consumers have consecutively expected the price of goods in the South Pacific country to decline since July. The plunge in crude and gas prices have seen since July have strongly contributed to the sharp change in expectations.
Quarterly inflation itself has also fallen, to 1.2% in the third quarter alone, a substantial decline from the previous estimate of 1.5%.
AUDUSD traded through 0.6554 at 19:25 EST.
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