Australia Q2 inflation within RBA’s comfort zone

FXStreet (Bali) – Australia’s CPI (QoQ) came in at 0.7%, below forecasts of 0.8%, while the yearly reading came alos below expectations at 1.5% vs 1.7% exp. As per Australia’s RBA trimmed mean, CPI (QoQ) came in at 0.6%, above forecasts (0.5%), while RBA trimmed mean CPI (YoY) met forecasts at 2.2%.

Q2 Key Points – ABS

THE ALL GROUPS CPI: rose 0.7% this quarter, compared with a rise of 0.2% last quarter. rose 1.5% over the last twelve months, compared with a rise of 1.3% through the year to the previous quarter.

OVERVIEW OF CPI MOVEMENTS: The most significant price rises this quarter are automotive fuel (+12.2%), medical and hospital services (+4.5%) and new dwelling purchase by owner-occupiers (+1.5%). The most significant offsetting price falls this quarter are domestic holiday travel and accommodation (-5.4%) and pharmaceutical products (-1.8%).

Australia’s CPI (QoQ) came in at 0.7%, below forecasts of 0.8%, while the yearly reading came alos below expectations at 1.5% vs 1.7% exp. As per Australia’s RBA trimmed mean, CPI (QoQ) came in at 0.6%, above forecasts (0.5%), while RBA trimmed mean CPI (YoY) met forecasts at 2.2%.

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