Australian inflation data for the July to September quarter 2019

Headline 0.5% q/q and 1.7% y/y - in line with median consensus expectations

  • expected 0.5% q/q, prior 0.6%
  • expected 1.7% y/y, prior 1.6%

Core inflation Trimmed mean 0.4% q/q and 1.6% y/y - in line with median consensus expectations

  • expected 0.4 q/q, prior 0.4%
  • expected 1.6% y/y, prior 1.6%

Core inflation Weighted median 0.3% q/q and 1.2% y/y - both the q/q and y/y a tic under the median consensus expectations

  • expected 0.4% q/q, prior 0.4%
  • expected 1.3% y/y, prior was 1.3%

The RBA target band is, in a nutshell, 2 to 3% for core inflation y/y. Core inflation is well under and has been for years.

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For background: