The monthly CPI data from Australia does not show all components of the CPI, that’ll have to wait for the quarterly data release.
- The monthly CPI indicator does, however, provide a timelier indication of inflation using the same data collected for use in the quarterly CPI. The monthly reading includes updated prices for between 62 and 73 per cent of the weight of the quarterly CPI basket, its not the full picture.
The quarterly CPI reading for the July – September quarter is not due until Wednesday 30 October
However! We work with what we’ve got, which is the monthly. Due at 11.30 am Sydney time
- 0130 GMT
- 2130 US Eastern time
Earlier previews:
- Australia CPI preview – CBA expect “Headline inflation in August back within RBA’s target”
- Australian August Monthly CPI preview – Westpac expect 2.7% y/y for the monthly read
Adding in this snippet from BNZ:
- Australian monthly CPI data are expected
to show lower headline inflation, from 3.5% to 2.7% y/y in
August, driven by electricity subsidies and fuel base
effects. - Yesterday, the RBA noted that headline inflation
will decline for a time, but underlying inflation is more
indicative of inflation momentum, and it remains too high.
More on the Reserve Bank of Australia here from yesterday’s statement and Governor Bullock’s press conference.
From the Reserve Bank of Australia website, the cash and current inflation rates.