Australia inflation gauge for December: 0.2% m/m (vs. 0.1% prior month)

The private survey of inflation each month from TD Securities, for December

• 0.2 % m/m (prior 0.1%)
• 2.0% y/y (prior 1.8%)

The 'trimmed mean' reading is at -0.1% m/m and 1.7% y/y

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The RBA target band is 2 to 3% y/y. If this private gauge is indicative of the official result (and its usually a pretty good indicator) then inflation is no hindrance to any further Reserve Bank of Australia interest rate cuts, should they deem that appropriate. Which seems unlikely for a good while yet - the RBA is on hold.

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The official CPI data comes from the Australian Bureau of Statistics once a quarter, the next reading due on January 27. In the meantime, TD publishes their survey each month.

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Meanwhile, the AUD/USD has filled in its 'gap' lower from earlier this morning: