MNI Table: Australia Q1 CPI Y/Y Remains Below RBA Target Band

--Underlying +1.95% Y/Y Slightly Above MNI Median Forecast

     SYDNEY (MNI)  - Consumer Price Index inflation data for the first quarter

published by the Australian Bureau of Statistics on Tuesday:

                          Q1 Q/Q    Q1 Y/Y          MNI Median

--------------------------------------------------------------

                        % Change  % Change            % Change

All Groups CPI              +0.4      +1.9  +0.5 Q/Q; +1.9 Y/Y

All Groups (SA*)            +0.5      +1.9

Trimmed Mean                +0.5      +1.9            +0.5 Q/Q

Weighted Median             +0.5      +2.0            +0.5 Q/Q

Underlying Inflation**      +0.5     +1.95  +0.5 Q/Q; +1.9 Y/Y

Tradable Inflation          -0.4      -0.5

Non-Tradable Inflation      +0.8      +3.1

CPI Ex-Housing              +0.4      +1.6

     * Seasonally Adjusted

     ** Underlying inflation is the average of trimmed-mean and weighted-median

inflation. This is roughly the measure the RBA uses in its cash-rate

deliberations. The Reserve Bank of Australia's inflation target band is 2% to

3%.

--MNI Sydney Bureau; tel: +61 2-9716-5467; email: sophia.rodrigues@marketnews.com

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