Australia inflation data, Q1 2021 Headline CPI 0.6% q/q (expected 0.9%)
Australian CPI for the January to March quarter of 2021.
Headline is 0.6% q/q
expected 0.9% q/q, prior 0.9%
expected 1.4% y/y , prior 0.9%
Core inflation measures:
Trimmed mean 0.3% q/q
expected 0.5 % q/q, prior 0.4%
expected 1.2% y/y, prior 1.2% (note, RBA target for core inflation is 2-3%)
Weighted median 0.4% q/q
expected 0.5% q/q, prior 0.5%
expected 1.3% y/y, prior was 1.4%
Base effects (for y/y reads) are still a quarter away, for example headline inflation is likely to be above 3% y/y in Q2. The bump above 3% is expected to be just that, to be 'transitory'. The following diminution of base effects in Q3 should see CPI dip lower again.
Anyway, this is all in the future. Not related to today's data release. For now we'll have to be satisfied with a well-under expected CPI for this quarter just passed.