Analysts at TD Securities note that Australia’s December inflation came in at +0.4% m/m and 1.9% Y/Y.
“Contributing to the overall change in December were price rises for holiday travel & accommodation (+7.9%) and audio, visual & computing equipment (+2.6%). These were primarily offset by falls in private motoring (-1.3%- lower oil) and rents (-1.0%). Our Dec qtr tracking for headline and core CPI both +0.4%/q and annual rates at 1.6% and 1.7% respectively, the latter in line with the RBA's 1¾%/y end-2018 forecast as published in November. Released Jan 30 and likely to pass unnoticed if these projections come to pass. Consensus won't be available until Friday 25th.”
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