Australia Inflation Stays Above RBA Target as March CPI Hits 4.6%

businessmacroeconomicsworld 7 posts · 2 accounts

Australia's consumer prices rose 4.6% in March from a year earlier, up from 3.7% previously and slightly below the 4.8% estimate, while monthly CPI increased 1.1% after no change in the prior reading. The data kept inflation above the Reserve Bank of Australia's 2%-3% target band.

Underlying inflation was steadier. March trimmed-mean CPI was 3.3% from a year earlier, unchanged from the previous reading and in line with estimates, while first-quarter trimmed-mean inflation was 3.5%, up from 3.4% and matching forecasts. Higher fuel costs tied to Middle East supply disruptions added to already elevated price pressures, keeping policymakers on a tightening path.

From the sources (7 posts)

@firstsquawk

AUSTRALIA (MAR) CPI MOM ACTUAL: 1.1% VS 0.0% PREVIOUS

@firstsquawk

AUSTRALIA (MAR) CPI YOY ACTUAL: 4.6% VS 3.7% PREVIOUS;EST 4.8%

@firstsquawk

AUSTRALIA (MAR) CPI TRIMMED MEAN MOM ACTUAL: 0.3% VS 0.2% PREVIOUS

@firstsquawk

AUSTRALIA (MAR) CPI TRIMMED MEAN YOY ACTUAL: 3.3% VS 3.3% PREVIOUS;EST 3.3%

@firstsquawk

AUSTRALIA (Q1) CPI TRIMMED MEAN QOQ ACTUAL: 0.8% VS 0.9% PREVIOUS;EST 0.9%

@firstsquawk

AUSTRALIA (Q1) CPI TRIMMED MEAN YOY ACTUAL: 3.5% VS 3.4% PREVIOUS;EST 3.5%

@business

Australia’s inflation remained above the Reserve Bank’s 2-3% target band as higher fuel costs from Middle East supply disruptions compounded already-elevated price pressures to keep policymakers on a tightening path

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