Australia Inflation Q3 2016

Australia

Australia: Inflation picks up in Q3

In the third quarter of 2016, consumer prices rose 0.7% over the previous quarter, surpassing market analysts’ expectations of a 0.5% increase and Q2’s 0.4% rise. The Australian Bureau of Statistics elaborated that higher prices for housing, alcohol and tobacco, as well as for food and non-alcoholic beverages registered the most significant increases in Q3. These increases were partially offset by lower prices for communication, transport and health.

Inflation came in at 1.3% in Q3, up from 1.0% in Q2, which had marked a 17-year low. Meanwhile, annual average inflation inched down from 1.4% in Q2 to 1.3% in Q3, below the Reserve Bank of Australia’s inflation target of 2.0%–3.0%.

FocusEconomics panelists expect that inflation will average 1.2% in 2016, which is down 0.1 percentage points from last month's forecast. For 2017, panelists see average inflation of 2.0%, which is unchanged from last month’s estimate.


Author:, Economist

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Australia Inflation Q3 2016

Note: Year-on-year and quarter-on-quarter variation of consumer price index in %.
Source: Australian Bureau of Statistics.


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