- Prior reading was 1.2% y/y
- Trimmed mean +2.4% vs +2.2% exp
- Weighted mean 2.6% vs 2.2% exp
That will cool the heels of the Aussie bears. Instant move up to 1.0304.
There was talk that economists may have had a hard time with effects from the carbon tax but the internal numbers look genuinely high including a 1.4% rise in clothing, 1.3% in health and 1.4% in financial services.
RBA cut expectations have plunged down to 60% from 80% but that seems like an overreaction to me.
