(Australian Associated Press)
The Australian dollar has fallen half a US cent to a three-week low after September quarter inflation proved weaker than expected.
The consumer price index rose 0.5 per cent in the three months to September, weaker than expectations of a rise of 0.7 per cent, delivering an annual rate of inflation of 1.5 per cent.
Underlying inflation, which strips out volatile price movements, was 2.15 per cent over the year to September, at the lower end of the Reserve Bank’s target range.
The Australian dollar was at 71.35 US cents at 1135 AEST, down from 71.91 US cents just before the release of the inflation data.