Australia Inflation Q2 2017

Australia

Australia: Inflation softens in Q2

July 26, 2017

In the second quarter of 2017, consumer prices rose 0.2% over the previous quarter, coming in below market expectations of 0.4% and the first quarter print. The Australian Bureau of Statistics said that higher prices for medical and hospital services, new home purchases and tobacco more than offset lower prices for domestic holiday travel and accommodation and automotive fuel.

Inflation fell from 2.1% in Q1 to 1.9% in Q2. Inflation fell back below the Reserve Bank’s 2.0%–3.0% target band, after having crossed into the target range for the first time in almost three years in Q1. Meanwhile, average inflation edged up from 1.5% in Q1 to 1.7% in Q2.

FocusEconomics panelists expect inflation to average 2.1% in 2017, which is unchanged from last month's forecast. For 2018, panelists see average inflation of 2.2%.


Author:, Economist

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Australia Inflation Q2 2017 0

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


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