Australian Q3 2023 Headline CPI +1.2% q/q (vs. 1.1% expected) | Forexlive
Higher than expected inflation data from Australia. Right across all three measures:
- headline
- trimmed mean (a core inflation measure)
- weighted median (another core inflation measure)
The topside surprise on the headline and core measures of inflation will put pressure on the Reserve Bank of Australia to hike in November.
AUD/USD has jumped higher, and market pricing for a rate hike has also.
The ‘trimmed mean’ is the preferred measure of underlying, or core, inflation.
There is another core measure, the weighted median:
- 1.3% q/q vs. expected 1.0% and prior 1.0%
- 5.2% y/y vs. expected 5.0%, prior 5.5%
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RBA Gov. Bullock will be speaking tomorrow. Brace yourself from some added hawkishness:
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Background on today’s data: