Australia - Melbourne Institute monthly CPI inflation for February 0.1% m/m (prior 0.2%)

Australia - Melbourne Institute monthly CPI, February 2021

0.1% m/m

• prior 0.2%

1.6% y/y

• prior 1.5%

Trimmed mean, a measure of core inflation comes in at 0.1% m/m and 0.3% y/y

• from prior +0.2% and +0.2% respectively

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Official inflation data comes from Australia once a quarter, this monthly data fills in the gaps nicely. The RBA target band for core inflation is 2 to 3%. This survey is indicating core inflation at 0.3% y/y, obviously way, way below the lower end of the band.