Australia: Headline CPI to print 0.5% for September quarter - Westpac

Sandeep Kanihama FXStreet Contributor

Justin Smirk, Research Analyst at Westpac, suggests that Westpac’s forecast for the September quarter headline CPI of Australian economy is 0.5%qtr which will see the annual pace ease to 2.0%yr from 2.1%yr.

Key Quotes

“Westpac’s forecast leaves the two quarter annualised pace at 1.6%yr.”

“The September quarter is a seasonally strong quarter with the ABS projecting a seasonal factor of +0.30ppt. However, this is larger than the average of the June quarter seasonal factor for the previous two years (average 0.27ppt) so there is a risk that this estimate will be revised downward.”

“Core inflation is forecast to print 0.3%qtr (0.31% at two decimal places) seeing the annual pace ease to 1.8%yr from 1.9%yr. The trimmed mean AND weighted median are both forecast to rise 0.31%. The two quarter annualised pace of core inflation eases back to 1.5%yr from 2.0%yr putting inflation momentum below the RBA’s target band.”

“Core inflation remains below the bottom of the RBA target band due moderating housing costs.”

Author

Sandeep Kanihama

FXStreet Contributor

Sandeep Kanihama is an FX Editor and Analyst with FXstreet having principally focus area on Asia and European markets with commodity, currency and equities coverage. He is stationed in the Indian capital city of Delhi.

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