Inflation in Australia
Australia - Inflation
Inflation dips in Q3
In the third quarter of 2018, consumer prices rose 0.4% over the previous quarter, according to the Australian Bureau of Statistics (ABS). The figure came in line with market expectations and matched the previous quarter’s reading. According to the ABS, Q3’s print was underpinned by higher prices for recreation and culture, alcohol and tobacco, transport, and food and non-alcoholic beverages, which were partially offset by lower prices for child care, pushed down by a government subsidy introduced in early July.
Inflation ticked down to 1.9% in Q3 from Q2’s 2.1%, again matching market expectations and just below the Reserve Bank’s 2.0%–3.0% target band. Substantial regional variations persisted: Inflation came in at 2.0% or above in Canberra, Sidney and Melbourne, whereas more subdued readings in Darwin and Perth dragged on the overall figure. Moderate wage growth likely continued to keep inflation in check and will give the RBA room to maintain its loose monetary stance in the months to come.
FocusEconomics panelists expect inflation to average 2.3% in 2019, which is unchanged from last month’s forecast, and 2.2% in 2020.
Australia - Inflation Data
|Inflation Rate (CPI, annual variation in %)||2.4||2.5||1.5||1.3||1.9|
5 years of economic forecasts for more than 30 economic indicators.
Australia Inflation Chart
Source: Australia Bureau of Statistics and FocusEconomics calculations.
|Bond Yield||2.27||1.47 %||Jan 16|
|Exchange Rate||0.72||0.05 %||Jan 16|
|Stock Market||5,894||0.08 %||Jan 16|
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January 16, 2019
The Westpac-Melbourne Institute consumer sentiment index fell from 104.4 in December to 99.6 in January.
January 11, 2019
Nominal retail sales growth in November came in at 0.4% over the previous month in seasonally-adjusted terms, following October’s 0.3% expansion.
December 20, 2018
Seasonally-adjusted employment increased by 37,000 in November compared to the previous month, following the revised 28,700 jobs added in October (previously reported: +32,800 jobs) and overshooting analysts’ expectations for a gain of 20,000.
December 12, 2018
The Westpac-Melbourne Institute consumer sentiment index inched up from 104.3 in November to 104.4 in December.
December 11, 2018
The business confidence index produced by National Australia Bank (NAB) declined to 3.2 points in November from October’s revised 4.5 points (previously reported: 4.2 points).