Australia Q2 CPI Rises 0.6% On Quarter, Misses Forecasts
Australia’s second-quarter consumer price index rose 0.6% quarter-over-quarter, falling short of the median forecast for a 0.7% increase. The headline annual inflation rate also registered a 4.0% year-over-year pace, missing the expected 4.1% estimate.
Core inflation measures missed forecasts as well. The trimmed mean CPI increased 0.8% on the quarter and 3.6% annually versus projections of 0.9% and 3.7%, respectively. The weighted median CPI posted a 3.6% annual gain, also underperforming the 3.7% forecast.
From the sources (25 posts)
@financialjuiceRBA Governor Bullock: economy has adjusted steadily and broadly as anticipated
@financialjuiceRBA Governor Bullock: Demand growth seems to be easing broadly as expected in May baseline forecasts
@financialjuiceRBA Governor Bullock: board prepared to increase cash rate further if necessary
@financialjuiceRBA Governor Bullock: some additional slowing in demand growth likely needed to reduce inflation
@financialjuiceRBA Governor Bullock: housing market has cooled more than expected
@financialjuiceRBA Governor Bullock: core inflation has developed as anticipated but remains too high
@financialjuiceRBA Governor Bullock: too soon to evaluate full economic impact of oil shock
@financialjuiceRBA Governor Bullock: additional easing in labor market likely needed
@firstsquawkRBA Governor Bullock: The main issue is whether the monetary tightening already implemented will be enough to bring inflation lower.
@firstsquawkRBA Governor Bullock: The Board remains willing to increase interest rates further if inflationary pressures do not ease as expected.
@firstsquawkRBA Governor Bullock: The labour market may need to weaken further to help restore balance and lower inflation.
@firstsquawkRBA Governor Bullock: Core inflation trends have developed broadly as expected but are still above desired levels.
@firstsquawkRBA Governor Bullock: The housing sector has cooled more significantly than the Bank had previously projected.
@firstsquawkRBA Governor Bullock: Growth in demand is showing signs of slowing in line with the Bank’s May economic outlook.
@financialjuiceUnderlying inflation has progressed as anticipated, but remains too elevated
@financialjuiceHousing market has slowed more than we anticipated
@businessAustralia’s central bank chief said it’s still unclear if this year’s interest-rate hikes are enough to return inflation to target or whether additional tightening will be needed.
@financialjuiceRBA Governor Bullock: Economy slowing, housing market cooling more than anticipated
@firstsquawkRBA Governor Bullock: Economy and Housing Market Slowing More Than Expected
@financialjuiceRBA Governor Bullock: inflation is largely in line with expectations
@firstsquawkBullock Says Australian Inflation Is Largely in Line With Forecasts
@financialjuiceRBA Governor Bullock: Uncertain about board decision at next meeting
@financialjuiceRBA Governor Bullock: board faces tough choices if inflation doesn’t ease
@firstsquawkReserve Bank of Australia Chief: No Clarity on Upcoming Policy Decision
@firstsquawkReserve Bank of Australia Chief: Policy Decision Hinges on Restrictiveness Assessment