We get official CPI data from Australia once a quarter only, so this monthly glimpse from a private provider gets some interest
Comes in at 0.1% m/m and 1.9% y/y for October
- for September the readings were inflation 0.3% m/m and 2.1% y/y
Trimmed mean is 1.7% y/y
- prior 1.7% y/y
- this is 'core' inflation measure and is the one to watch. The RBA target is 2 - 3% … so yet again its below.
Yes, core inflation showing below target, as it did in the official CPI data we had last week. The RBA has a dual mandate, jobs growth and an inflation target. Job growth is coming along reasonably well, but inflation is persistency missing.
They have two jobs and failing at one of them.
Plenty of people have two jobs but tend to lose one if they keep stuffing it up.
