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Australia Returns to Inflation in Q3
Consumer prices in Australia rose by 0.7% year-on-year in the third quarter of 2020, after a 0.3% fall in the previous period and in line with market consensus, amid the reopening of the economy from the COVID-19 lockdown. Cost of education rebounded (1% vs -1% in Q2), as free childcare ended on July 13th. Additionally, prices fell less for transport (-4% vs -7.5%); furnishings & household equipment (-0.1% vs -9.8%); and communication (-3.3% vs -3.6%). On the other hand, prices slowed for food (3.4% vs 4.1%); alcohol & tobacco (8.1% vs 8.4%); and insurance & financial services (1.6% vs 1.7%). Also, cost of housing (-0.2% vs 0.1%); and clothing & footwear (-0.5% vs 0.5%) dropped. In addition, prices of recreation & culture declined at a faster pace (-0.7% vs -0.3%). On a quarterly basis, consumer prices went up by 1.6%, rebounding from a 1.9% decrease in the prior period and above forecasts of a 1.5% gain.
Published on 2020-10-28

Australia Q2 Consumer Prices Fall for First Time Since 1997
Consumer prices in Australia dropped by 0.3% year-on-year in Q2 2020, compared with market consensus of a 0.4% fall and after a 2.2% rise in Q1. This was the first decline in consumer prices since Q3 1997, as the economy struggled to contain the COVID-19. Transport prices fell for the first time since Q4 2016 (-7.5% vs 2.6% in Q1), while cost of furnishings dropped for first time in four quarters (-9.8% vs 2.2%). Also, cost of communication fell further (-3.6% vs -3.4%), with prices of recreation down for first time since Q2 2017 (-0.3% vs 1.3%), and those of education declining for the first time on record (-1% vs 2.7%). Meanwhile, cost slowed for both housing (0.1% vs 0.6%) and clothing (0.5% vs 2%). Food prices jumped to a near 9-year high of 4.1% (vs 3.2%). Also, cost rose further for both alcohol & tobacco (8.4% vs 7.9%) and insurance & financial services (1.7% vs 1.6%). On a quarterly basis, consumer prices dropped 1.9% in Q2, the largest quarterly fall in history.
Published on 2020-07-29

Australia Q1 Inflation Rate Hits 5-1/2-Year High
The annual inflation rate in Australia rose to 2.2% in Q1 2020 from 1.8% in Q4, above market expectations of 2%. It was the highest inflation rate since Q3 2014 and the first time it reached the RBA target band since early 2018, reflecting the impact of drought and bushfires and early effects of COVID-19. Food prices jumped to 5-1/2- year high of 3.2% (vs 2.6% in Q4), of which beef & veal (8.8%), pork (8.5%), eggs (6%) and vegetables (5.1%). Also, prices rose further for housing (0.6% vs 0.2%); furnishings & household equipment (2.2% vs 1.1%); clothing (2% vs 1.4%); alcohol & tobacco (7.9% vs 6.5%); and insurance & financial services (1.6% vs 0.7%). In addition, cost of communication fell less (-3.4% vs -3.8%). Meanwhile, cost slowed for recreation & culture (1.3% vs 1.5%); transport (2.6% vs 2.8%); health (2.9% vs 3.2%); and education (2.7% vs 2.9%). On a quarterly basis, consumer prices increased by 0.3% in Q1, the least in a year, after a 0.7% gain in Q4.
Published on 2020-04-29

Australia Inflation Rate Unexpectedly Rises to 1-Year High in Q4
The annual inflation rate in Australia rose to 1.8 percent in the last quarter of 2019 from 1.7 percent in the previous period and above market expectations of 1.7 percent. It was the highest inflation rate in a year, as cost of food & non-alcoholic beverages jumped to an over five-year high (2.6% vs 2.3% in Q3), namely meals out & takeaway foods (+2.1%). Also, prices advanced further for transport (2.8% vs 0.7%), in particular automotive fuels (+2.9%); alcohol & tobacco (6.5% vs 6.6%); health (3.2% vs 3.1%); education (2.9% vs 2.8%); and insurance & financial services (0.7% vs 0.5%). Additionally, cost of communication fell less (-3.8% vs -4.1%). Meanwhile, prices slowed for housing (0.2% vs 0.4%); recreation & culture (1.5% vs 1.7%); furnishings & household equipment (1.1% vs 1.8%); and clothing (1.4% vs 1.5%). On a quarterly basis, consumer prices increased 0.7 percent, after a 0.5 percent gain in Q3, and hitting its highest since Q3 2016.
Published on 2020-01-29

Australia Q3 Inflation Rate Matches Estimates
The annual inflation rate in Australia inched higher to 1.7 percent in the September quarter of 2019 from 1.6 percent in the previous period and in line with market expectations. This was the highest inflation rate since the fourth quarter last year, mainly due to a rebound in cost of furnishings, household equipment and services while transport prices slowed markedly. On a quarterly basis, consumer prices increased by 0.5 percent in the third quarter, easing from a 0.6 percent gain the prior period and also matching consensus.
Published on 2019-10-30

Australia Q2 Inflation Rate Stronger than Expected
The annual inflation rate in Australia rose to 1.6 percent in the June quarter 2019 from a 2-1/2-year low of 1.3 percent in the previous period. The latest CPI reading was above market consensus of 1.5 percent, as food inflation hit its highest in nearly five years while transport prices picked up strongly. On a quarterly basis, consumer prices increased by 0.6 percent, the strongest quarterly inflation rate in 1-1/2 years and above to expectations of 0.5 percent.
Published on 2019-07-31

Australia Q1 Inflation Rate at 2-1/2-Year Low of 1.3%
The annual inflation rate in Australia fell to 1.3 percent in the first quarter 2019 from 1.8 percent in the previous period and missing market expectations of 1.5 percent. It was the lowest inflation rate since the third quarter 2016, amid a slowdown in petrol and housing prices. On a quarterly basis, consumer prices were flat in the March quarter, the weakest quarterly inflation rate in three years, after a 0.5 percent rise in the previous three months, below market consensus of 0.2 percent.
Published on 2019-04-24

Australia Q4 Inflation Rate at Over 1-Year Low of 1.8%
Australia's consumer price inflation edged down to 1.8 percent year-on-year in the last quarter of 2018 from 1.9 percent in the previous period and above market expectations of 1.7 percent. It was the lowest inflation rate since the third quarter of 2017, mainly due to a marked slowdown in cost of transport. On a quarterly basis, consumer prices went up 0.5 percent, after a 0.4 percent rise in the September quarter and slightly above consensus of 0.4 percent. It marked the highest quarterly figure since the last quarter of 2017.
Published on 2019-01-30

Australia Q3 Inflation Rate Slows to 1.9%
Australia's consumer price inflation eased to 1.9 percent year-on-year in the third quarter of 2018 from 2.1 percent in the previous period. The latest figure was in line with market expectations, mainly due to a marked slowdown in cost of housing. On a quarterly basis, consumer prices went up 0.4 percent, the same as in the June quarter and matching consensus.
Published on 2018-10-31

Australia Q2 Inflation Rate Highest in Over a Year
Australia's consumer price inflation rose to 2.1 percent year-on-year in the second quarter of 2018 from 1.9 percent in the previous period, but slightly below market expectations of 2.2 percent. Still, it was the highest rate since the first quarter of 2017, mainly due to higher prices of fuel, electricity and tobacco. On a quarterly basis, consumer prices went up 0.4 percent in Q2, the same pace as in the previous period and below consensus of a 0.5 percent gain.
Published on 2018-07-25

Australia Q1 Inflation Rate Steady at 1.9%
Consumer prices in Australia rose by 1.9 percent through the year to the March quarter of 2018, the same as in the previous quarter and compared with market consensus of 2 percent. Cost of housing and transport increased at a softer pace while prices of food rebounded. On a quarterly basis, consumer prices went up 0.4 percent, following a 0.6 percent gain in the previous period while markets estimated 0.5 percent.
Published on 2018-04-24

Australia Inflation Rate Edges Up to 1.9% in Q4
Consumer prices in Australia rose 1.9 percent through the year to the December quarter of 2017, following a 1.8 percent rise in the previous quarter and compared with market consensus of a 2.0 percent rise. Cost of housing and transport increased at faster paces while cost of food fell much less.
Published on 2018-01-31

Australia Q3 Inflation Rate Rises Less than Expected
Consumer prices in Australia rose 1.8 percent through the year to the September quarter of 2017, following a 1.9 percent rise in the second quarter and missing market consensus of a 2.0 percent rise. It was the lowest inflation rate since the December quarter 2016, mainly due to a drop in prices of food while cost of housing and transport continued to increase. On a quarterly basis, consumer prices rose 0.6 percent, much faster than a 0.2 percent in the second quarter but below expectations of a 0.8 percent increase.
Published on 2017-10-25

Australia Inflation Rate Edges Down To 1.9% In Q2
Consumer prices in Australia rose 1.9 percent through the year to the June quarter of 2017 from 2.1 percent in Q1 of 2017 while markets expected a 2.2 percent rise. The inflation rate edged lower from the 2-1/2 year high in Q1, mainly due to a slowdown in cost of housing and transport. On a quarterly basis, consumer prices rose 0.2 percent, below 0.5 percent in Q1 and short of market expectations of a 0.4 percent increase. The most significant price rises this quarter are medical and hospital services (4.1 percent), tobacco (1 percent), beer (1 percent) and new dwelling purchase by owner-occupiers (0.9 percent). These rises were partially offset by falls in domestic holiday travel & accommodation (-3.2 percent), fruit (-4.4 percent) and automotive fuel (-2.5 percent).
Published on 2017-07-26

Australia Inflation Rate At 2-1/2-Year High Of 2.1% In Q1
Consumer prices in Australia rose 2.1 percent through the year to the March quarter of 2017 from 1.5 percent in the fourth quarter 2016 while markets expected a 2.1 percent rise. It was the highest inflation rate since the September quarter 2014, driven by a surge in cost of transport and an increase in cost food and non-alcoholic beverages and housing. On a quarterly basis, consumer prices rose 0.5 percent, the same as in the previous quarter but slightly below market expectations of a 0.6 percent increase. The most significant price rises this quarter are automotive fuel (5.7 percent), new dwelling purchase by owner-occupiers (1.0 percent), medical and hospital services (1.6 percent) and electricity (2.5 percent). These rises were partially offset by falls in international holiday travel and accommodation (-3.8 percent), fruit (-6.7 percent) and furniture (-3.5 percent).
Published on 2017-04-26

Australia Inflation Rate Slightly Below Estimates in Q4
Consumer prices in Australia rose 1.5 percent through the year to the fourth quarter of 2016 from 1.3 percent in the September quarter while markets expected a 1.6 percent rise. It was the highest inflation rate since the December quarter 2015, as a faster increase in prices of food and housing offset a drop in cost of transport. On a quarterly basis, consumer prices went up 0.5 percent, following a 0.7 percent rise in the previous three month period and below market expectations of a 0.7 percent increase.
Published on 2017-01-25

Australia Inflation Rate Rises More Than Expected in Q3
Consumer prices in Australia rose 1.3 percent through the year to the third quarter of 2016 from 1.0 percent in the previous three month period and above market consensus of a 1.1 percent. The biggest upward pressure came from food and non-alcoholic beverages (+1.5 percent from -0.1 percent in the June quarter) as floods affected supply of vegetables. Cost also grew at a faster face for housing, clothing and footwear, furnishing, household equipment and services, and insurance and financial services. In contrast, prices continue to decline for transport and communication. On a quarterly basis, consumer prices went up 0.7 percent, following a 0.4 percent rise in the June quarter while market expected a 0.5 percent increase. It was the highest figure since the June quarter 2015.
Published on 2016-10-26

Australia Inflation Rate at 17-Year Low in Q2
Consumer prices in Australia rose 1.0 percent through the year to the June quarter of 2016 from 1.3 percent in the previous quarter and slightly below market consensus. It was the lowest inflation rate since the second quarter 1999. On a quarterly basis, consumer prices rose 0.4 percent, following a 0.2 percent drop in the previous three months and in line with expectations. Meanwhile, RBA Trimmed Mean CPI rose 1.7 percent year-on-year in the second quarter of 2016, the same pace as in the preceding quarter and above estimates of a 1.5 percent rise. Quarter-on-quarter, the index increased 0.5 percent, up from 0.2 percent in the first quarter. RBA Weighted Mean CPI rose 1.3 percent year-on-year in the three months to June, compared to a 1.4 percent in the preceding quarter. On a quarterly basis, the index rose 0.4 percent, after gaining 0.1 percent in the March quarter. For 2016, Australia's central bank targets core inflation of between 2.0 percent to 3.0 percent on average.
Published on 2016-07-27

Australia Inflation Rate Eases to 1.3% YoY in Q1
Consumer prices in Australia rose 1.3 percent through the year to the March quarter of 2016 from 1.7 percent in the previous quarter and below market consensus. RBA Trimmed Mean CPI rose 1.7 percent year-on-year in the first quarter of 2016, slowing from a 2.1 percent in the preceding quarter and below estimates of a 2.0 percent rise. Quarter-on-quarter, the index increased 0.2 percent, down from 0.6 percent in the December quarter. RBA Weighted Mean CPI rose 1.4 percent year-on-year in the March quarter 2016, easing from 1.9 percent. Quarter-on-quarter, the index rose 0.1 percent from 0.5 percent. For 2016, Australia's central bank targets core inflation of between 2.0 percent to 3.0 percent on average. Quarter-on-quarter, consumer prices unexpectedly dropped by 0.2 percent, following a 0.4 percent increase in the December quarter. It is the first decline since the fourth quarter of 2008.
Published on 2016-04-27

Australia Core Inflation at the Bottom of Target Range
RBA Trimmed Mean CPI in Australia rose 2.1 percent year-on-year in the fourth quarter of 2015, the same pace as in the previous quarter and in line with market consensus. Quarter-on-quarter, the index increased 0.6 percent, up from 0.3 percent in the September quarter. RBA Weighted Mean CPI rose 1.9 percent year-on-year in the December quarter of 2015, up from a downwardly revised 2.1 percent. Quarter-on-quarter, the index rose 0.5 percent from an upwardly revised 0.4 percent. For 2016, Australia's central bank targets core inflation between 2.0 percent to 3.0 percent on average.
Published on 2016-01-27