Tuesday April 24 brings Q1 inflation data from Australia
- Due at 0130GMT
Headline inflation was last 0.6% q/q, 1.9% y/y
- Core (trimmed mean) was 0.4% and 1.8% respectively (y/y below the 2 to 3% RBA target)
- Core (weighted median) was 0.4% and 2.0% respectively (y/y at the lower point of the 2 to 3% RBA target)
An early preview via ANZ:
We expect inflation has stabilised a little below the RBA's 2-3% policy target band.
- Seasonal increases in education, childcare, and pharmaceutical products will add to headline CPI in Q1, but are expected to be offset by seasonal falls in the prices of international holiday & accommodation and fresh fruit & vegetables.
- Petrol prices were broadly flat in the quarter
- Retail price deflation remains a key theme
