This data series from the Australian Bureau of Statistics has been on a downtrend

2.5 % m/m

  • expected +1.5% m/m, prior -8.4%

-28.6% y/y

  • expected -28.9%, prior -22.5%

The above are the seasonally adjusted results, the market focus. The 'trend' measure is -3.2% m/m.

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For background to this:

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Earlier:

Australia - ANZ job ads for February: -0.7% m/m (prior -1.8%)

  • not a plus ...

Australia monthly inflation indicator, headline 0.1% m/m (prior -0.1%) and 1.7% y/y (1.5%) ... 'Trimmed mean' (a core inflation measure): - 0.0% m/m (prior -0.1%) - 1.6% y/y (prior 1.4%)

  • The RBA target band for inflation is 2 - 3% y/y, still below