Australia's Q2 CPI steadies at 0.4% q/q, misses estimates
Following the below expectations Australia's Q1 2018 CPI readings, today's inflation figures for the Q2 showed a mixed picture, with the headline figures missing expectations. The core figures matched expectations, pushing the annualized inflation rates just within the Reserve Bank of Australia’s (RBA) 2-3 percent target range.
Main Headlines
Q1 CPI headline q/q +0.4% vs 0.5% exp and 0.4% prior.
Q1 CPI headline y/y +2.1% vs 2.2% exp and 1.9% prior.
RBA trimmed mean +0.5% vs 0.5% exp and 0.5% last.
RBA trimmed mean y/y +1.9% vs 1.9% exp and 1.9% last.
June Key Figures
The All Groups CPI
- Rose 0.4% this quarter, compared with a rise of 0.4% in the March quarter 2018.
- Rose 2.1% over the twelve months to the June quarter of 2018, compared with a rise of 1.9% over the twelve months to the March quarter of 2018.
Overview of CPI Movements
- The most significant price rises this quarter are automotive fuel (+6.9%), medical and hospital services (+3.1%) and tobacco (+2.8%).
- The most significant offsetting price falls this quarter are domestic holiday travel and accommodation (-2.7%), motor vehicles (-2.0) and vegetables (-2.9%).
Author
Dhwani Mehta
FXStreet
Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.
