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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
Headline CPI inflation for October moderated to 6.9% y/y with the travel & food components and reweighting putting downward pressure on prices. The trimmed mean stabilised at 5.3%. If we look at some alternative measures of CPI inflation, it does look like that there is a tentative peaking in price pressures but they are still running well above the top of the RBA’s target band. The data point to further rate hikes but remaining at 25bp.
- 3-month annualised momentum in headline inflation has turned down decisively to 5.5% from a peak of 8.6% in April in line with the downtrend in fuel prices. Momentum in the trimmed mean measure moderated in October for the first time this year dropping to 5.7% from 6% last month, but one month doesn’t make a trend and this peak is very tentative.
- Our proxy for retail prices looks to have peaked in August at 7.7% and moderated to a still elevated 7.4% y/y in October. The median of the major components (median CPI) returned to its August rate in October of 4.5% y/y.
- The official CPI ex volatile items also moderated in October to 6.4% y/y from 6.8% last month.
Australia CPI momentum 3m/3m ave ann%
Source: MNI - Market News/ABS
Australia inflation measures 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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