Australia: Inflation eases to 12 month low in Q3
October 23, 2013
In the third quarter, consumer prices rose 1.2% over the previous quarter, which marked an acceleration over the 0.4% recorded in Q2 and was above market expectations of 0.8%. The quarterly print was the result of an across-the-board price increase, with housing and transport prices registering the fastest accelerations.
Despite the quarterly increase, annual inflation edged down from 2.4% in the second quarter to 2.2% in the third, thereby, marking the lowest reading since Q3 2012. Annual average inflation remained at Q1's 2.3%.
FocusEconomics panelists expect that inflation will average 2.2% in 2013, which is down 0.1 percentage points from last month's forecast. For 2014, panelists also expect an average inflation of 2.5%, which is also down 0.1 percentage points from last month's estimate.