The October to December inflation data if here from earlier
Response quickly in from Capital economics (bolding mine):
The Q4 inflation figures are largely as expected, with the main message being that inflation is still just below the 2-3 per cent target range and we think it will stay there.
- So despite the strength of the recent activity data, we still think the RBA won't raise interest rates this year.
... upward influences from petrol
- and tobacco ( ... due to the rise in excise taxes in September)
- were offset by the changes in clothing, furniture and communications being weaker than usual for this time of year.