0130 GMT2130 US Eastern time
This is CPI for the month of April alone and is not viewed as complete or official. Nevertheless, it's a guide.
We expect a 2.3%/yr outturn, slightly lower
. Driving outcomes will be the higher annual increase in health insurance premiums and
expected
We expect 2.3%/yr, slightly lower than the 2.4%/yr in MarchDriving outcomes will be the higher annual increase in health insurance premiums and strong expected travel demand, to be offset by lower fuel prices.
Westpac:
forecasting a 0.3% rise in the April Monthly CPI Indicator which will take the annual pace down to 1.9%yr. Being the first month of the quarter April provides an update on quarterly prices for clothing & footwear, maintenance of dwellings and furniture & household equipment. The first month of the quarter focuses on goods prices so we have to wait for the second and third month of the quarter to get the quarterly updates on services.I've posted this info before, but ICYMI:
To offer more timely information, the ABS introduced a Monthly CPI Indicator in October 2022. This monthly indicator includes updated prices for around two-thirds of the items in the CPI basket, offering a more frequent snapshot of inflation. However, it is less detailed than the quarterly CPI, as it covers fewer items and provides data only at the national level. The monthly indicator includes aggregate headline CPI, trimmed mean, each of the 11 CPI groups (e.g., clothing & footwear, health), and some selected expenditure classes (e.g., automotive fuel, new dwelling costs, rents, domestic and international travel, and some food categories).
In summary, the monthly CPI indicator provides more frequent updates on inflation trends, while the quarterly CPI offers a more comprehensive and detailed analysis.
This article was written by Eamonn Sheridan at www.forexlive.com. Read More Details
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