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MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
AUSTRALIA DATA
The NAB business survey showed that cost pressures rose again in November and as a result there was also a pickup in selling prices. While the RBA is likely to be pleased that the survey is showing slowing business activity, which is important to bring demand and supply back into balance, it is likely to be concerned that inflationary pressures remain elevated. All of the NAB price/cost components are running well above series averages.
- In terms of costs, labour costs rose 2.2% over the 3 months to November up from 2% and 1pp above the historical average. Purchase costs rose 2.5% after 1.9%.
- Final product prices rose 1.2% up from 1% and double the average, while retail prices rose 1.9% compared with the 0.7% average. RBA Governor Bullock noted recently that firms still have the pricing power to pass higher costs onto customers and the NAB survey is in line with this.
Australia NAB cost/price measures
Source: MNI - Market News/Refinitiv
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
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