This data will be very welcome at the Reserve Bank of Australia - headline and underlying inflation both falling in Q4 of 2023.
![Australia q4 cpi 2023 inflation 2](https://images.forexlive.com/images/Australia%20q4%20cpi%202023%20inflation_id_66da5420-af94-4bda-afd9-1687060b9fc4_size900.jpg)
As well as 'trimmed mean' there is another measure of core inflation, the 'weighted median':
0.9% q.q
- vs. 1.0% expected and prior of 1.3%
4.4% y/y
- vs. 4.5% expected and 5.2% prior
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This data is strongly indicative that the Reserve Bank of Australia rate hike cycle is over.
The RBA next meets on February 5 and 6. I expect it'll be an on hold decision.