Australia's Q3 CPI beats expectations, RBA trimmed mean CPI unchanged
|Following Australia's brighter Q2 2016 CPI readings, today's inflation figures for the Q3 show another marked improvement, which should reinforce the notion of a neutral RBA going foward.
Main headlines
CPI headline q/q 0.7% vs 0.4% exp and 0.4% prior
CPI headline y/y 1.3% vs 1.1% exp and 1.0% prior
RBA trimmed mean 0.4% vs 0.4% exp and 0.5% last
RBA trimmed mean y/y 1.7% vs 1.7% exp and 1.7% last
Q3 key figures
THE ALL GROUPS CPI
- rose 0.7% this quarter, compared with a rise of 0.4% in the June quarter 2016.
- rose 1.3% over the twelve months to the September quarter 2016, compared with a rise of 1.0% over the twelve months to the June quarter 2016.
OVERVIEW OF CPI MOVEMENTS
- The most significant price rises this quarter are fruit (+19.5%), electricity (+5.4%), vegetables (+5.9%), tobacco (+2.3%) and property rates and charges (+4.0%).
- The most significant offsetting price falls this quarter are automotive fuel (-2.9%) and telecommunication equipment and services (-2.5%).
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