Australian Consumer Price Index (CPI) for the July to September quarter is due at 0030 GMT.


  • expected 0.8% q/q, prior 0.8%

For the y/y,

  • expected 3.1, prior 3.8% (lower expected mainly due to base effects)

Core inflation: Trimmed mean

  • expected 0.5% q/q, prior 0.5%

  • expected 1.8% y/y, prior 1.8%

The RBA target band for core inflation is sustainably in a 2 to 3% band. You can see its (trimmed mean) is not within that band at present and tomorrow's data is not expected there either.

The weighted median is another measure of core inflation.

  • expected 0.5% q/q, prior 0.5%

  • expected 1.9% y/y, prior was 1.7%

Remarks via Westpac:

  • Core inflation, as measured by the trimmed mean, is set to rise 0.5% lifting the annual pace from 1.6%yr to 1.9%yr.
  • The six month annualised pace of core inflation is forecast to accelerate from 1.8%yr to 2.0%yr. Transport makes the single largest contribution
  • Housing is next
  • Dwelling prices are 4.7% below where they would be due to HomeBuilder grants. As the grants expire dwelling prices in the CPI will rise.