February 26, 2025 00:37 GMT
MNI BRIEF: Aussie Monthly Trimmed Mean CPI At 2.8% Y/Y
MNI (MELBOURNE) - Underlying inflation rose 10 basis points to 2.8% y/y over January, while headline inflation remained flat at 2.5%, 10bp better than expected, data from the Australian Bureau of Statistics showed Wednesday.
“The CPI excluding volatile items and holiday travel measure rose 2.9% in the 12 months to January, compared to a 2.7% rise in the 12 months to December,” noted Michelle Marquardt, head of prices statistics at the ABS.
The Reserve Bank of Australia cut the cash rate 25bp to 4.10% last week following better than expected Q4 trimmed mean inflation. (See MNI RBA WATCH: Board Delivers Hawkish 25BP Cut)
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