Australia – Q2 CPI

The ‘headline’ result is the q/q CPI: +0.5%

  • expected +0.5%,
  • prior was +0.6%

For the y/y, +3.0%

  • expected is +3.0%, prior +2.9%

The ‘trimmed mean’ (which is the measure the RBA pays most heed to):

For the q/q: +0.8%

  • expected +0.6%,
  • prior +0.6%, revised from +0.5%

For the y/y: +2.9%

  • expected is 2.7%, prior 2.6%

Finally, there is the ‘weighted median’ CPI: +0.6% q/q

  • For q/q: expected 0.7%, prior was 0.6%
  • For y/y, in at +2.7%: expected 2.7%, prior was 2.7%

———-

AUD marked higher immediately.

Adam nailed this in his preview: Preview: Will inflation data finally get AUD/USD moving?