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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 price/cost components of the August NAB business survey showed that businesses continue to face rising costs but retail and finished product prices eased in the month. While it is still early days, the Q3 average of finished goods prices is suggesting that the CPI may trough in Q4 as significant cost pressures are passed on.
Australia NAB price of final products vs CPI y/y% (quarterly)
Source: MNI - Market News/Refinitiv
- Purchase costs rose further to 2.9% from 2.8%, the highest since February, as fuel prices rose substantially in August in addition to July’s power price hikes. Labour costs moderated to 3.2% from 3.7%, but remained above average after July was boosted by the minimum award wage rise.
- The price of final products moderated though to 1.7% from 1.9%, still above the 2023 average, and retail prices to 1.9% from 2.6%. This may be a tentative signal that firms’ pricing power eased, especially retailers. Although trading conditions rose a point to 18.4 in August suggesting that firms retain some pricing power.
Australia NAB survey price & cost components
Source: MNI - Market News/Refinitiv
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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