Consumer prices rose by 0.5 per cent in the June quarter,...

Consumer prices rose by 0.5 per cent in the June quarter, broadly in line with market expectations.
The quarterly growth, compared with 0.6 per cent in the preceding six months, equates to an annual rate of 3 per cent, up 0.1 percentage point at the end of the March quarter.
Despite rising consumer prices, the Reserve Bank of Australia is likely to remain sanguine about current inflation, focusing instead on the underlying result, as measured by the weighted median measure, which came in at 0.7 per cent for the quarter and 2.7 per cent year-on-year.
Economist had forecast a headline figure of 3 per cent and 2.7 per cent for the underlying rate.
Analysts have also pointed to a moderation in price pressures in the second half because of sluggish consumer spending, wage restraint and job market weakness.
After trading down about 0.1 per cent, to US93.84 cents, throughout the morning, the Australian dollar bounced to US94.28 cents on the release.