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MNI BRIEF: Australian CPI At 6.1%, Lower Than Most Forecasts

MNI (Sydney)
SYDNEY (MNI)

The trimmed mean inflation figure was 4.9%.

Australia’s second quarter CPI inflation has printed at an annualised 6.1% in data released on Wednesday after increasing 1.8% over the quarter.

Trimmed mean inflation, the Reserve Bank of Australia’s preferred measure, was 4.9% after a 1.2% quarterly increase. The data was slightly lower than expectations, but will be a major factor when the RBA Board meets next week with another rate hike likely, (See: MNI INSIGHT: RBA Confident Of Avoiding Recession As Econ Cools).

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Australia’s second quarter CPI inflation has printed at an annualised 6.1% in data released on Wednesday after increasing 1.8% over the quarter.

Trimmed mean inflation, the Reserve Bank of Australia’s preferred measure, was 4.9% after a 1.2% quarterly increase. The data was slightly lower than expectations, but will be a major factor when the RBA Board meets next week with another rate hike likely, (See: MNI INSIGHT: RBA Confident Of Avoiding Recession As Econ Cools).

Keep reading...Show less