Inflation data from Australia for the April - June quarter of 2023, along with June month CPI also:

Australia q2 2023 inflation cpi June

The 'trimmed mean' is the preferred measure of underlying, or core, inflation.

There is another core measure, the weighted median:

  • 1.0% q/q vs. expected 1.1% and prior 1.2%
  • 5.5% y/y vs. expected 5.4%, prior 5.8%

Note that the 'prior' for monthly inflation was revised lower, to 5.5%.

Looking at inflation over the last six months, its 2.6% annualised. That is a positive result the RBA will like. Their target band is 2 to 3%. Heading in the right direction.

Mixed results but both headline and trimmed mean are lower than were expected. Services inflation is a particular concern for the Reserve Bank of Australia, and it hit a 22-year high of 6.3% due to rents, restaurant meals, holiday travel and insurance.


For background on this: