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MNI BRIEF: Aussie Monthly CPI Rises Slow

MNI (SYDNEY) - Australia’s monthly consumer price index indicator printed at 2.7% y/y in August, in line with market expectations, while annual trimmed mean was 3.4%, down from July’s 3.8%, Australian Bureau of Statistics data showed Wednesday. 

The Reserve Bank of Australia will look through the headline read and focus on the trimmed mean measure, due to the impact of Federal government energy subsidies. RBA Governor Michele Bullock noted Tuesday, following the board’s decision to hold the cash rate at 4.35%, that the Reserve wants to see inflation sustainably within the 2-3% target band. (See MNI RBA WATCH: Changed Messaging Considered In Hawkish Hold

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MNI (SYDNEY) - Australia’s monthly consumer price index indicator printed at 2.7% y/y in August, in line with market expectations, while annual trimmed mean was 3.4%, down from July’s 3.8%, Australian Bureau of Statistics data showed Wednesday. 

The Reserve Bank of Australia will look through the headline read and focus on the trimmed mean measure, due to the impact of Federal government energy subsidies. RBA Governor Michele Bullock noted Tuesday, following the board’s decision to hold the cash rate at 4.35%, that the Reserve wants to see inflation sustainably within the 2-3% target band. (See MNI RBA WATCH: Changed Messaging Considered In Hawkish Hold

Keep reading...Show less