Australia CPI rose 1.8% qoq in Q2, blow expectation of 1.9% qoq. For the 12-month interval, CPI accelerated from 5.1% yoy to six.1% yoy, beneath expectation of 6.3% yoy. RBA trimmed imply CPI got here in at 1.5% qoq, 4.9% yoy, versus expectation of 1.5% qoq, 4.7% yoy.
The quarterly improve was the second highest because the introduction of the Items and Companies Tax (GST), following on from a 2.1% improve in Q1. The annual rise was the best because the introduction of GST.
“Annual trimmed imply inflation was the best because the collection commenced in 2003 and annual items inflation was the best since 1987, because the impacts of provide disruptions, rising delivery prices and different world and home inflationary elements flowed by way of the economic system,” mentioned Head of Costs Statistics on the ABS, Michelle Marquardt.
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