The latest official inflation data from Australia was published at the end of January.

On January 25 we got the quarterly CPI at 1.9% q/q and 7.8% y/y:

and the monthly CPI, even worse at +8%:

The quarterly CPI data point is more complete than the monthly data, but the monthly comes out more often (d'uh) and is used as a reasonable guide. It even gets front-page prominence on the Reserve Bank of Australia website:

rba cash rate inflation

The upcoming quarterly print is not due until April, but we do get the next monthly reading on Wednesday, March 1. So, a heads up for that. Its of note because the RBA has found itself playing catch-up on inflation. The twin inflation shocks of 7.8% and 8.4% back on January 25 locked in the rate hike we had from the Reserve Bank of Australia on February 7. The next RBA meeting is on March 7 and while I think we've had enough information from Reserve Bank of Australia Governor Lowe in his recent testimony to expect another rate hike, +25bp, in March the CPI data due next week will nevertheless be eyed.

I'll have more to come on the CPI on approach to Wednesday. The data is due at

  • 11.30am Sydney time
  • 0030 GMT
  • 7.30pm on Tuesday February 28 US Eastern time