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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
January CPI inflation printed below expectations holding steady at 3.4% y/y and ex volatile items & holiday travel dipped 0.1pp to 4.1% and the trimmed mean 0.2pp to 3.8%. The first month of the quarter doesn’t include updates for the services component but even so is unlikely to drive a shift in the RBA’s on hold stance or tightening bias.
- Headline inflation rose 0.4% m/m but 3-month momentum continued to ease and is around the mid-point of the band. The ABS said that the 3.4% y/y increase in prices was driven by housing (+4.6% y/y), food (+4.4%, fresh food was negative) and insurance (+8.2%) but holiday travel & accommodation fell 7.1% y/y.
- RBA Governor Bullock noted that the help from falling goods inflation is probably behind us and in January goods inflation was only 0.1pp lower at 3.1% y/y and non-tradeables 0.1pp higher at 0.9%.
- Electricity prices were brought down by rebates as they rose only 0.8% y/y and would’ve been 15.3% without them, according to the ABS.
- Rents rose 7.4% y/y in January as the market remains tight.
Australia CPI y/y%
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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