I'm not that impressed by the CPI data out in Australia. It's directionally ok, with "trimmed mean" down to about 0.8% QoQ.
The MoM data is also out, and it's not that impressive.
I don't think it quite warrants a hike, but I also don't think inflation is solved yet.
But with retail sales collapsing, it's pretty obvs that all this inflation is being created by excessive govt spending.
Govt needs a holistic approach to this nonsense - which would be to
1. Cut rates
2. Reduce govt spending A LOT.