Q4 CPI Up 0.5%, Oz Dollar Jumps
Latest numbers from the Australian Bureau of Statistics (ABS) reveals inflationary pressures remained subdued in Q4Y18, with CPI jumping 0.5% versus 0.4% expected. The Australian dollar slightly spiked on the news – from 0.7154 US cents to 0.7180 US cents.
Increase on year earlier climbed 1.8%, also beating analysts forecasts for 1.7%.
It follows a rise of 0.4% in the September quarter.
For Q4, underlying interest spiked 0.4%, with the annual increase notching 1.77%.
The annual increase comes in line with former RBA and analyst expectations.The ABS claims the most significant rises during the December quarter were tobacco (9.4%), fruit (5%), furniture (1.8%), plus domestic travel and accommodation (6.2%).
Increases were offset by a drop in car fuel (-2.5%), wine (-1.9%), telecommunications equipment and services (-1.5%), plus audio visual and computing products (-3.3%).
For the quarter, tradable prices slipped 0.3%, whilst non-tradeable prices jumped 0.9%.
Non-tradeable prices represent about 60% of the ABS’ CPI basket.