January 31, 2024 00:38 GMT
MNI BRIEF: Aussie Quarterly CPI Misses Expectations At 4.1%
(MNI) Melbourne
The Australian quarterly consumer price index rose 4.1% y/y over Q4 2023 from Q3’s 5.4%, lower than the forecasted 4.3%, while trimmed mean rose 4.2% from the prior quarter’s 5.1%, data from the Australian Bureau of Statistics showed Wednesday.
"The CPI rose 0.6% in the December quarter, lower than the 1.2% rise in the September 2023 quarter. This was the smallest quarterly rise since the March 2021 quarter,” noted Michelle Marquardt, ABS head of prices statistics.
The result will encourage the Reserve Bank of Australia board when it meets next week. The RBA has forecasted CPI at 4% by the June quarter.
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