Australia: CPI 1.8% q/q (expected 1.8%) & Trimmed mean 1.5% q/q (expected 1.5%)

Q2 inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term data from Australia.

Headline CPI

1.8% q/q

• expected 1.8% q/q, prior 2.2%

For the y/y, 6.1%

• expected 6.2%, prior 5.1%

Core inflation indicators

Trimmed mean

1.5% q/q

• expected 1.5% q/q, prior 1.4%

4.9% y/y

• expected 4.7% y/y, prior 3.7%

Weighted median

1.4% q/q

• expected 1.4% q/q, prior 1.0%

4.2% y/y

• expected 4.3% y/y, prior was 3.2%

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These results look to have locked in a 50bp rate hike at the Reserve Bank of Australia meeting on Tuesday next week, August 2 (statement due at 0430 GMT). The next official CPI data for Australia is not due now until October (for Q3), although we will get monthly unofficial data each month.

More to come separately on this.