Australian February monthly CPI data is due today.
A couple of snippet previews:
Westpac is forecasting 3.8% y/y:
- The Monthly CPI Indicator is anticipated to rise in February, reflecting increased gasoline prices and a potential Taylor Swift effect on travel and accommodation costs
Commonwealth Bank of Australia also:
- We expect inflation rose to 3.8%/yr as the data incorporates the annual increase in education costs, an end to some seasonal goods discounting, and an unwinding of some electricity rebates.
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The monthly CPI data from Australia does not show all components of the CPI, that'll have to wait for the quarterly data release.
- The monthly CPI indicator does, however, provide a timelier indication of inflation using the same data collected for use in the quarterly CPI. The monthly reading includes updated prices for between 62 and 73 per cent of the weight of the quarterly CPI basket, its not the full picture.