Consumer prices in Australia climbed 0.4 percent on quarter in the fourth quarter of 2015, the Australian Bureau of Statistics said on Wednesday.
That topped forecasts for an increase of 0.3 percent following the 0.5 percent gain in the third quarter.
On a yearly basis, inflation climbed 1.7 percent – also slightly above forecasts for an increase of 1.6 percent and up from 1.5 percent in the three months prior.
The Reserve Bank of Australia’s trimmed mean was up 0.6 percent on quarter, topping forecasts for 0.5 percent and up from 0.3 percent in Q3. On a yearly basis, the mean added 2.1 percent – unchanged and in line with forecasts.
The weighted median added 0.5 percent on quarter, matching forecasts and up from 0.4 percent in the third quarter. The median added 1.9 percent on year – shy of forecasts for 2.1 percent, which would have been unchanged.
The most significant price rises this quarter are tobacco (+7.4 percent), domestic holiday travel and accommodation (+5.9 percent) and international holiday travel and accommodation (+2.4 percent).
The most significant offsetting price falls this quarter are automotive fuel (-5.7 percent), telecommunication equipment and services (-2.4 percent) and fruit (-2.6 percent).
Also on Wednesday, the latest survey from Westpac Bank and the Melbourne Institute showed that the Australian economy slowed in December, as its leading economic index fell 0.3 percent to continue suggesting below-trend growth.
That follows the upwardly revised 0.2 percent decline in November (originally -0.3 percent).
Over the last six months, the index has slowed from 0.43 percent below trend to 1.03 percent now below trend now.
Among the individual components of the survey, dwelling approvals, yield spread and commodity prices were down, while monthly hours worked showed improvement.
The material has been provided by InstaForex Company – www.instaforex.com