CPI (QoQ) (Australia)
Event Date: Wednesday, October 25, 2023
Event Time: 00:30 CET
Updated Sunday, October 22, 2023
Inflation was growing by 0.4% in the last two quarters of 2017. But, it ticked higher to 0.5% in Q1 2018 as the report released in April showed, which was later revised higher to 0.6%. CPI inflation grew by 0.5% in Q2 2018 again. Although, it was revised lower to 0.4% later and the report for Q3 showed a 0.4% growth, which means that inflation growth is back to the normal trend of 0.4% in a quarter. Q4 was expected to show a 0.4% increase again but it beat expectations coming at 0.5%. In Q1 of this year, inflation was expected at 0.2%, but it fell flat, coming at 0.0% for that quarter. In Q2, inflation strengthened again to 0.6%, while core CPI ticked higher to 0.4% from 0.3% in Q1. In Q3, inflation stabilize further, as headline CPI was 0.5% and core CPI at 0.4%. In Q4, inflation increased by 0.7%, but weakened in Q1 of 2020 to 0.3%, as coronavirus forced the country to close shops. Q2 was much worse at -1.9%, while in Q3 the CPI jumped by 1.6%. Although it was expected to be slashed in half at 0.7% in Q4, but came at 2.1% in Q1 of this year although Q2 came at 1.9% while Q3 is expected to slow further to 1.4%. CPI YoY slowed to 5.4 % in June, while in July we saw another slowdown to 4.9%. In Q3, CPI QoQ is expected to show a 3 points increase to 1.1%. Please follow us for live coverage of this event by experienced market analysts.
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About CPI (QoQ) (Australia)
Australian CPI (QoQ) is published by the Australian Bureau of Statistics, about 25 days after each quarter ends. It serves as a measurement of pricing variations pertaining to a collective basket of select goods and services. CPI is a key inflationary metric, addressing economic prowess from the consumer’s point-of-view.Unexpected growth in the CPI (QoQ) is an intermediate-term signal of inflationary expansion. Rising CPI (QoQ) is widely viewed as a bullish indicator for the Australian dollar (AUD). Underperforming CPI (QoQ) is interpreted as being a product of stagnant inflation and a bearish signal for the AUD.