February 2023 headline CPI is 6.8% y/y, better (lower) than expected and from January

  • expected 7.1%, prior 7.4%
  • excluding volatile fruit, vegetables and fuel +6.9% y/y (from 7.55% in January)

For the m/m comes in at +0.2%

Augurs well for an RBA pause at its meeting next Tuesday (April 4).

Looking more and more like inflation has peaked. Doesn't mean it'll fall back to target (which is 2 to 3%) any time soon of course.

Australia cpi February 2023 peaked


I posted previews of this earlier:

There is more in those posts also on the shortcomings of the month;y CPI data. The quarterly is the 'official' measure. That will be published on April 29 for the January - Match 2023 quarter.