According to CoinMeta, Australia's Consumer Price Index (CPI) rose more than expected in July, and core inflation also increased unexpectedly, reinforcing the reasons for the Reserve Bank of Australia (RBA) to raise interest rates further. According to data from the Australian Bureau of Statistics, CPI in July increased by 1.0% from June, higher than the expected 0.8%. The trimmed average core inflation rose by 0.5% month-on-month, also exceeding the expected 0.3%, with an annual rate remaining at 3.6%. The release of this data caused the market to quickly adjust its expectations for a rate hike by RBA at the September meeting, and as a result, the Australian dollar rose.