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.
Monthly consumer price inflation slowed over the 12 months to May to 5.6% from Aprils’ 6.8%, while CPI excluding volatile items printed at 6.4%, 10bp down from the previous month, according to Australian Bureau of Statistics data published Wednesday.
Annual trimmed mean inflation was 6.1% in May, down from 6.7% in April. The Reserve Bank of Australia will monitor the decline in inflation as it gears for its next cash rate decision on Tuesday. According to the ABS, the most significant price rises were housing (+8.4%), food and non-alcoholic beverages (+7.9%) and furnishings, household equipment and services (+6.0%). Automotive fuel offset the rise, falling 8.0%.
"This month’s annual increase of 5.6% is the smallest increase since April last year,” said Michelle Marquardt, head of prices statistics at the ABS. “While prices have kept rising for most goods and services, many increases were smaller than we have seen in recent months."
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.