The reading on monthly CPI from Australia today is for November.
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 November data will include data for most services, which is where the RBA is most concerned about sticky inflation.
- The full quarterly reading will be on January 31 2024 for the October – December 2023 quarter.
CPI above expectations will keep speculation of an Reserve Bank of Australia February rate hike simmering away, while an under will diminish the probability of another hike.
The data is due at 11.30 am Sydney time
- which is 0030 GMT and 1930 US Eastern time
This snapshot from the ForexLive economic data calendar, access it here.
The times in the left-most column are GMT.
The numbers in the right-most column are the ‘prior’ (previous month/quarter as the case may be) result. The number in the column next to that, where there is a number, is the consensus median expected.
ps. That household spending data listed in the pic from Japan we got yesterday. It was ugly.