more to come
The Australian Monthly CPI Indicator measures monthly changes in the price of a ‘basket’ of goods and services. Its not a complete measure of the CPI like the quarterly indicator is.
For example, July, as the first month of the June quarter, is skewed toward goods and provides less insight than later months. August, the middle month, captures key services that better reflect domestic inflation, and its CPI data (due 24 September) will come just before the RBA’s 29–30 September meeting.
Nevertheless, the July data is expected top show a jump higher from June. The expected is 2.3%, which is still in the bottom half of the Reserve Bank of Australia’s 2 – 3% target band.
This article was written by Eamonn Sheridan at investinglive.com.