Breaking: Aussie CPI mainly in below expectations, AUD pressured

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Australian Consumer Price Index was seen steady in the first quarter after last quarter’s deceleration.

A positive surprise would have been expected to fuel a policy change debate for the central bank but the data has missed expectations and the Aussie is under pressure.

The outcome was as follows:

Australian CPI (Q/Q) Q1: 0.6% (exp 0.9%; prev 0.9%)

Australian CPI (Y/Y) Q1: 1.1% (exp 1.4%; prev 0.9%)

Australian CPI Trimmed Mean (Q/Q) Q1: 0.3% (exp 0.5%; prev 0.4%)

Australian CPI Trimmed Mean (Y/Y) Q1: 1.1% (exp 1.2%; prev 1.2%)

Australian CPI Weighted Median (Q/Q) Q1: 0.4% (exp 0.5%; prev 0.5%)

Australian CPI Weighted Median (Y/Y) Q1: 1.3% (exp 1.3%; R prev 1.3%)

"Government assistance has had a big impact on the CPI and for the next few quarters the unwinding of those packages is set to boost inflation," analysts at Westpac said. 


 


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