Australia’s monthly Consumer Price Index (CPI) rises 3.4% in the year to February 2024, compared to the annual increase of 3.4% seen in January, the Australian Bureau of Statistics reported on Wednesday. The market had expected an increase of 3.5% in the reported period.$Australian Dollar (LIST20043.AU)$$S&P/ASX 200 OPIC (OXJO.AU)$
A number of factors are likely to put upward pressure on the February result. The education basket, which is only updated once a year in February, is expected to contribute around 0.2 of a percentage point to the result and petrol prices around 0.2 of a percentage point. The Reserve Bank looks at a range of data points and economic indicators in assessing monetary policy decisions. Fundamentally though, its goal is to achieve an annual headline inflation rate of between 2 and 3 per cent. ...
The education basket, which is only updated once a year in February, is expected to contribute around 0.2 of a percentage point to the result and petrol prices around 0.2 of a percentage point. The Reserve Bank looks at a range of data points and economic indicators in assessing monetary policy decisions. Fundamentally though, its goal is to achieve an annual headline inflation rate of between 2 and 3 per cent. And while Australia's inflation target is expressed in terms of...
Increases in the prices of Food and non-alcoholic beverages slowed this month. The rise of 3.6 per cent in the 12 months to February was down from the 4.4 per cent annual increase to January. The rise this month is the lowest annual growth since January 2022 with prices in most food categories moderating and, in some cases, such as Meat and seafood and Fruit and vegetables, falling.$Australian Dollar (LIST20043.AU)$$S&P/ASX 200 (.XJO.AU)$
Housing rose 4.6 per cent in the 12 months to February, unchanged from January. Within Housing, Rents increased by 7.6% for the year, up from 7.4% in January, reflecting a tight rental market and low vacancy rates across the country. New dwelling prices rose 4.9 per cent over the year with builders passing through higher costs for labour and materials. Annual new dwelling price increases have been around the 5 per cent mark for the past six months.$Australian Dollar (LIST20043.AU)$$S&P/ASX 200 (.XJO.AU)$
Sheesh, if you want ugly, pick the trimmed mean. If you don't want not so ugly, pick the "excluding volatile items** and holiday travel" (whatever that means ... why holiday travel?). Still, both of those measures of underlying inflation are above the headline rate. Australia is not out of the woods yet on high inflation. Stickier than a February afternoon in Darwin it is.$S&P/ASX 200 OPIC (OXJO.AU)$$AUD (LIST20039.AU)$$Australian Dollar (LIST20043.AU)$
The market had expected an increase of 3.5% in the reported period. $Australian Dollar (LIST20043.AU)$ $S&P/ASX 200 OPIC (OXJO.AU)$
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The Reserve Bank looks at a range of data points and economic indicators in assessing monetary policy decisions.
Fundamentally though, its goal is to achieve an annual headline inflation rate of between 2 and 3 per cent.
And while Australia's inflation target is expressed in terms of...
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