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.
Australia’s monthly Consumer Price Index (CPI) indicator rose 4.0% y/y in May, up from April’s 3.6% and 20 basis points higher than expected, according to the latest data from the Australian Bureau of Statistics (ABS).
The most significant contributors to the annual rise were Housing (5.2%), food and non-alcoholic beverages (3.3%), transport (4.9%), and alcohol and tobacco (6.7%).
Michelle Marquardt, ABS head of prices statistics, noted underlying inflation was 4.0% in May, down from 4.1% in April.
The RBA board decided to hold the cash rate steady at its most recent policy meeting, despite higher monthly inflation prints. RBA Governor Michele Bullock noted the economy remained on track to pull inflation back to the 2-3% target band, but that path had “narrowed.” (See MNI RBA WATCH: Hikes Discussed As Bullock Steers Narrow Path)
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.