What to watch for in the CPI data from Australia today
- Due at 0030GMT
- What is expected for the headline, trimmed mean, and weighted median measures? Here
Preview via Westpac:
- The Q3 CPI printed at 0.7% for an annual rate of 1.3%yr, up from 1.0%yr in Q2.
- The June quarter was the lowest rate of annual inflation since June 1999
- The core measures rose 0.3%,with the annual pace at 1.5%yr, from 1.6%yr in Q2 (originally reported as 1.5%yr)
- Modest gains in housing have been fundamental to holding down core inflation, but there were some signs of AUD depreciation being passed through
- In the December quarter, a modest reversal of fresh fruit& vegetable prices along with the seasonal decline in pharmaceuticals will partially offset price rises for tobacco, auto fuel and domestic holidays.
- Our forecast for the headline CPI is 0.7%qtr/1.6%yr, with the core measures forecast to rise an average of 0.6%qtr/1.7%yr