Find below a couple of CPI previews from NAB and Westpac. They agree on a relatively benign June QTR result of 0.7% headline and lower for core.
My own view is lower still but I still don’t agree that the CPI is the key release in the next few weeks. Barring an out of the ballpark result, weakness is pretty much baked in and will not trigger further cuts.
It’s the guides to economic strength or weakness, especially the labour market, that will matter in the next few weeks.
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