Australian Q1 CPI: +0.2% q/q
expected +0.1%
prior was +0.2%
1.3% y/y
expected is +1.3%
prior +1.7%
Trimmed mean +0.6% q/q
expected 0.6%
prior 0.6%, revised down from0.7% q/q
Trimmed mean +2.3% y/y
expected 2.2%
prior 2.2%
Weighted median +0.6% q/q
expected 0.5%, prior was 0.7%
Weighted median +2.4% y/y
- expected 2.3%
- prior was 2.4%, revised up from 2.3%
-
AUD/USD jumped on the data
I put up a pic earlier on what was 'expected' - the median was +0.1%, but not a by a big margin over +0.2%:
AUD/USD is above 0.7755 as I type, a decent gain on the release after being up 15 or so points a few minutes before the time.
It's the 'trimmed mean' to take a good look at ... at 2.3% its within the 2 - 3% target range for the RBA, and on SMP forecasts (from memory, 2.25% ... correct me if I'm wrong on that)
Also - the RBA rate decision next month (May 5) is going to depend on their outlook for inflation, not the historical data
