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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.
AUSTRALIA DATA
The monthly CPI for September showed that inflation had strong momentum going into Q4, which is likely to be another reason that the RBA’s Q4 CPI forecasts are likely to be revised up. The jump in headline to 5.6% from 5.2%, the second straight monthly rise, risks increasing inflation expectations too, which the RBA is wary of. Surveys show that cost-of-living remains the biggest concern for most households.
- Seasonally-adjusted headline CPI rose 0.3% m/m in September which annualised is 4%, which is well above the expectations the RBA has for 12 months’ time. 3-month momentum also picked up to 5.1% from 4.2% in August. Recent increases in headline have been driven by higher fuel prices. Rents also remain high at 7.6% y/y and electricity rose 18% y/y.
- Excluding volatile items and holiday travel, the CPI also rose 0.3% seasonally adjusted and 3-month momentum picked up to 5.2% from 4.5%. These robust numbers can’t be blamed on fuel prices. The annual rate was steady at 5.5% y/y while the trimmed mean eased to 5.4% from 5.6%.
- Child care fell 6% y/y due to a 13.1% m/m drop in September related to increased government subsidies.
Australia CPI y/y%
Source: MNI - Market News/ABS
Australia CPI sa 3m/3m ave ann%
Source: MNI - Market News/ABS
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.
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