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NAB ON UPCOMING CPI - "NAB expects........>

AUSTRALIA
AUSTRALIA: NAB ON UPCOMING CPI - "NAB expects headline CPI to rise 0.8% q/q and
2.0% y/y. Higher electricity and energy prices will contribute the lion's share
(adding some 0.4% points to growth in the quarter.) Acting as some offset is a
fall in petrol prices and a decline in vegetable prices... There may be some
downside risk to our forecast if retail vegetable prices fall as far as
wholesale prices; wholesale vegetable prices fell 16% which we moderated to a 4%
decline in the CPI."

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