Australian CPI for April 6.8% y/y (expected 6.4%)

The Monthly CPI (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) report is not as comprehensive as the quarterly and should be viewed as a guide only.

Comes in at 6.8% y/y ... the RBA won't like this

• expected 6.4%, prior 7.0%

The most significant price rises were Housing (+8.9%), Food and non-alcoholic beverages (+7.9%) and Transport (+7.1%). Petrol (gasoline) prices in the month of April were much higher than in March.

The ABS adds:

• The annual movement for the monthly CPI excluding volatile items and holiday travel rose 6.5% in April, down from 6.9% in March. This series excludes Fruit and vegetables, Automotive fuel and Holiday travel and accommodation.

The 'excluding volatile items' coming in lower is a bit of relief in this report.

more to come