3Q CPI released by the Australian Bureau of Statistics due out at 0030 GMT
The once a quarter official Australian inflation report will be released at 0030 GMT.
Other data released today include the Australian Skilled Vacancies for September. Last month the release showed at 0.3% gain. The data will be released at 0000 GMT.
The expectations are for the key CPI headline data to show a:
- Rise by 0.8%
- Last quarter the reading showed a 0.2% rise
- The YoY is expected to rise 2.0% up from 1.9% last quarter
For the trimmed mean (i.e. the core reading. This is the one the RBA pays most attention to and targets a 2-3% band), the expectations are for a:
- Rise of 0.5% QoQ
- That compares to 0.5% in the 2nd quarter
- The YoY is expected to rise to 2.0% from 1.8% in Q2
Finally for the weighted median CPI (also a core measure)
- QoQ is expected at 0.5% vs 0.5% last quarter
- The YoY is expected to come in at 2.0% vs 1.8% in Q2
A reading of 2.0% for the trimmed and median numbers would be the first times since Dec 2015 quarter that the numbers reached the 2-3% RBA target. It will be at the lower end of the range but at least it was able to climb up to one of the summits for inflation. This should push the RBA closer to tightening. On Tuesday, the RBA kept rates unchanged.
