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