Australia CPI for Q2 2018 data is due at 0130 GMT. Previews posted already:
- AUD trader - heads up for CPI data due soon - preview
- AUD traders - heads up for Q2 inflation data due this week (July 25)
Just rounding up some of the other previews, this in brief via:
TD:
Monthly 'headline' inflation popped in April then flat-lined in May and June, and so we expect
- Q2 headline inflation to increase by +0.6%/qtr and 2.3%/yr
Q2 trimmed mean to increase by +0.55%/qtr
- annual pace all but unchanged at 1.92%/yr
+0.55%/qtr lift in the weighted median measure (or 1.98%/yr)
We see overall annual underlying inflation trekking sideways at 1.95%/yr (rounding to 2%/y).
jump in the retail fuel price is the largest contribution
- followed by a seasonal bump in Health
main drags are from Communications and Recreation
While there isn't a "perfect" relationship between monthly and the 'official' quarterly inflation, domestic inflation remains lofty and we expect that to be reflected on Wednesday
report is unlikely to impact 'neutral' RBA thinking or market pricing. … Our forecasts are consistent with the RBA's May projections (core remaining at 2% this year) and so supports its patient, on-hold stance
Barclays:
Higher energy prices and a modest increase in food costs given drought like conditions on the east coast may put some upward pressure on inflation, but underlying inflation should remain modest
- Headline CPI 0.6% q/q / 2.3% y/y
- Trimmed-mean 0.5% q/q / 1.9% y/y
- Weighted-median 0.55% q/q / 1.9% y/y
