Australia Q4 Headline CPI 1.9% q/q (expected 1.6%) | Forexlive

Q4 2022 inflation data from Australia. Headline and both of the core measures are all above expected.

Headline 1.9% q/q

-expected 1.6% q/q, prior 1.8%

For the y/y, 7.8%

-expected 7.5%, prior 7.3%

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Core inflation: Trimmed mean

1.7% q/q

-expected 1.5% q/q, prior 1.8%

6.9% y/y

-expected 6.5% y/y, prior 6.1%

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Core inflation: Weighted median

1.6% q/q

-expected 1.4% q/q, prior 1.4%

5.8% y/y

-expected 5.5% y/y, prior was 5.0%

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AUD/USD has popped on the data. Strong inflation like this argues for a rate hike from the Reserve Bank of Australia at its February 7 meeting. There have been some expectations of a February pause, this data makes that unlikely.