- Analytics
- News and Tools
- Market News
- Australian inflation lifted by fuel, tobacco & the drought – Westpac
Australian inflation lifted by fuel, tobacco & the drought – Westpac
FXStreet reports that according to Justin Smirk, Senior Economists at Westpac offered his take on Wednesday's release of the Australian consumer inflation figures, which came in to show a rise of 1.8% YoY.
"As expected the main sources of rise in the CPI were tobacco (8.4%/0.29ppt contribution), auto fuel (4.4%/0.14ppt) and the drought impact on food (1.3%/0.20). Combined these groups accounted for 0.63ppt of the 0.63% rise in the CPI."
"The trimmed mean which, is seasonally adjusted and exclude extreme moves, rose 0.43%qtr which was on par with the market expectations. The annual pace was flat at 1.6%yr, the third consecutive quarter of this pace. The weighted median lifted 0.36%qtr/1.3%yr."
"Incorporating revisions, the six month annualised growth in the trimmed mean was flat at 1.7%yr, below the bottom of the RBA target band. Our forecasts have the six month annualised pace of core inflation only just touching 2%yr just once in the four quarters of 2020."
© 2000-2024. All rights reserved.
This site is managed by Teletrade D.J. LLC 2351 LLC 2022 (Euro House, Richmond Hill Road, Kingstown, VC0100, St. Vincent and the Grenadines).
The information on this website is for informational purposes only and does not constitute any investment advice.
The company does not serve or provide services to customers who are residents of the US, Canada, Iran, The Democratic People's Republic of Korea, Yemen and FATF blacklisted countries.
Making transactions on financial markets with marginal financial instruments opens up wide possibilities and allows investors who are willing to take risks to earn high profits, carrying a potentially high risk of losses at the same time. Therefore you should responsibly approach the issue of choosing the appropriate investment strategy, taking the available resources into account, before starting trading.
Use of the information: full or partial use of materials from this website must always be referenced to TeleTrade as the source of information. Use of the materials on the Internet must be accompanied by a hyperlink to teletrade.org. Automatic import of materials and information from this website is prohibited.
Please contact our PR department if you have any questions or need assistance at pr@teletrade.global.
Bank transfers
