CPI data from Australia for the April to June quarter:
- 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 is a number, is the consensus median expected.
As I posted earlier:
- The ‘trimmed mean’ in the pic above is a measure of core inflation . The RBA target band for core inflation is 2 to 3% over the course of a cycle (that’s a summary of the target). The RBA is forecasting core inflation to drop back into the target band in 2023. I think you will find most people agree that RBA CPI forecasting is appallingly woeful.
CPI preview via ASB in New Zealand:
- We expect the consumer price index (CPI) rose by 1.9% in the quarter, to take the annual rate of CPI inflation to 6.2%/yr. We anticipate higher petrol prices, as well as continued rising food, housing, and energy costs to be some of the key drivers of the increase.
- If the CPI prints broadly in line with our forecast, we expect the RBA to increase the cash rate by 50 basis points at the August Board meeting next Tuesday.