Australia CPI Slows to 4.2% in April; Core Inflation Rises to 3.4%, Above RBA Target
Australia’s consumer inflation slowed in April, with headline CPI rising 4.2% from a year earlier, below the 4.4% estimate and down from 4.6% previously. Monthly CPI increased 0.4%, also undershooting forecasts of 0.6% and easing from 1.1% in March. The trimmed-mean measure of core inflation was 3.4% year on year, in line with estimates and up from 3.3%.
The core reading remained above the top of the Reserve Bank’s target, reinforcing expectations that policymakers will maintain a hawkish tone after rapid interest-rate hikes this year. After the data, the Australian dollar pulled back from a two-week high against the yen, while the S&P/ASX 200 edged higher to 8,663.20.
From the sources (7 posts)
@firstsquawkAustralia CPI (M/M) Apr: 0.4% (est 0.6%;prev 1.1%)
@firstsquawkAustralia CPI (Y/Y): 4.2% (est 4.4%; prev 4.6%)
@firstsquawkAustralia CPI Trimmed Mean (Y/Y): 3.4% (est 3.4%; prev 3.3%)
@firstsquawkAustralia CPI Trimmed Mean (M/M): 0.3% (est 0.3%; prev 0.3%)
@firstsquawkAustralia’s benchmark S&P/ASX 200 edged higher to 8,663.20 points after inflation figures for April were released.
@firstsquawkAustralian Dollar pulls back from two-week top vs JPY on softer consumer inflation figures-FX
@businessAustralia’s core inflation remained above the top of the Reserve Bank’s target in April, reinforcing expectations policymakers will maintain a hawkish tone following rapid fire interest-rate hikes this year