The Australian Bureau of Statistics released its consumer inflation data on Wednesday. The consumer price inflation in Australia rose 0.5% in the third quarter, missing expectations for a 0.6% gain, after a 0.7% increase in the second quarter.

On a yearly basis, Australia's consumer price inflation remained unchanged at 1.5% in the third quarter, missing expectations for a rise to 1.7%.

The annual inflation was mainly driven by higher prices for education alcohol and health care.

The trimmed mean consumer price index (CPI) (the Reserve Bank of Australia's (RBA) main indicator of inflation) fell to 2.1% year-on-year in the third quarter from 2.2% in the second quarter, missing expectations for an increase to 2.4%.