Australia Q1 GDP 0.8% q/q (expected 0.7%)

Economic growth in the January to March quarter of 2022 in Australia.

Q1 GDP 0.8% q/q

• expected 0.7%, prior 3.4%

3.3% y/y

• expected 3.0%, prior 4.6%

The 'chain price index' (an inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term indicator) is +4.9%

The 'deflator' reading (also an inflation indicator) has come in at 3.0% q/q (prior was -0.1%) and 6.7% y/y

On wages, growth has slowed from the previous quarter (was 2.0%, this January - March quarter its 1.8%):

The Reserve Bank of Australia want to see higher sustained wage growth. Q1 did see weather, flood and ongoing COVID, along with supply chain, disruption, so the drop is not conclusive. Those inflation results just above ... rocketing higher regardless.

Background to this here:

• Australian Q1 GDP data due Wednesday, 1 June 2022 - preview