Australian Bureau of Statistics with the data.
Headline CPI +2.1% q/q
• expected 1.7% q/q, prior 1.3%
For the y/y, +5.1%
• expected 4.6%, prior 3.5%
Core inflation :
Trimmed mean (this is the main measure the RBA will be looking at)
+1.4% q/q
• expected 1.2% q/q, prior 1.0%
+3.7% y/y
• expected 3.4% y/y, prior 2.6% (the RBA target band is 2 to 3%, "on average, over time" (quote from the RBA).)
Weighted median
1.0% q/q
• expected 1.1% q/q, prior 0.9%
3.2% y/y
• expected 3.3% y/y, prior was 2.7%
AUD/USD has popped a little higher on the data. One minute bars:
Both the headline and trimmed mean have come in above consensus expectations. if this does not stick a rocket up the RBA and prompts them to hike next week (meeting is May 3) I don't know what it'll take (the Reserve Bank of Australia have used the 'waiting for wage growth' excuse, so that's what they'll say if they sit on their hands again)
Trimmed mean is the RBA preferred measure of core inflation, so they can't fob this off.
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Background:
