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(Preview 28/10 0130GMT) Q3 Consumer Price Index set to rebound

AUSTRALIA DATA
  • Australia 's all groups Consumer Price Index for the September quarter is set to rebound, with expectations of a 1.5% q/q increase making for annualised inflation of 0.7%. The Australian Bureau of Statistics will release the data on Wednesday October 28.
  • The RBA's target rate for inflation is between 2% to 3% y/y. If tomorrow's result comes in lower than forecasts it will fuel expectations that the RBA will move into new policy territory at next week's board meeting, and announce a program of Quantitative Easing.
  • The rebound follows the lowest quarterly result on record in Q2, a fall of 1.9%. The previous biggest quarterly fall was -1.5% in 1953. The Q2 result delivered annualised inflation of -0.3%.
  • The biggest impact on Q2 inflation was a 95.0% fall in the cost of childcare after it was made free by the Government. Those subsidies have now been removed.
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Energy BulletsCommodities
MNI London Bureau | +44 203-865-3812 | les.commons@marketnews.com
Energy BulletsCommodities

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