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Monthly Consumer Price Index Indicator, June 2023
Key statistics The monthly CPI indicator rose 5.4% in the twelve months to June. The most significant price rises were Housing (+7.4%), Food and non-alcoholic beverages (+7.0%) and Recreation and culture (+6.8%). Offsetting the rise was Automotive fuel (-10.6%). Weighted average of eight capital cities, annual movement: table Monthly Overview The monthly CPI indicator rose 5.4% in the twelve months to June, slightly lower than the rise of 5.5% in May. The annual movement for the monthly CPI excluding volatile items and travel rose 6.1% in June, down from the rise of 6.4% in May. This series excludes Fruit and ... (full story)
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Australian Q2 Headline CPI 0.8% q/q (vs. 1.0% expected)
Inflation data from Australia for the April - June quarter of 2023, along with June month CPI also: table The 'trimmed mean' is the preferred measure of underlying, or core, inflation. There is another core measure, the weighted median: 1.0% q/q vs. expected 1.1% and prior 1.2% 5.5% y/y vs. expected 5.4%, prior 5.8% Note that the 'prior' for monthly inflation was revised lower, to 5.5%. Mixed results but both headline and trimmed mean are lower than were expected. Services inflation is a particular concern for the Reserve Bank of Australia, and it hit a 22-year high of 6.3% due to rents, restaurant meals, holiday ... (full story)
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Australia’s CPI inflation declines to 0.8% in Q2 vs. 1.0% expected
According to the latest data published by the Australian Bureau of Statistics (ABS) on Wednesday, the country’s Consumer Price Index (CPI) rose 0.8% in the second quarter of 2023, compared with the 1.4% increase seen in the first quarter. The market consensus was for a growth of 1.0% in the reported period. Annually, Australia’s CPI inflation softened to 6.0% in Q1 2023 as against the expected 6.2% increase and the previous print of 7.0%. The RBA Trimmed Mean CPI for Q2 advanced 1.0% and 5.9% on a quarterly and annual basis respectively. Markets predicted an increase of 1.1% QoQ and 5.9% YoY in the quarter to ... (full story)