Told ya. CPI is out and it’s weak, 0.5% on the quarter and 1.2% on the year. The trimmed mean, the weighted median are all weak. Looks like most of what inflation there is in retail, suggesting the recent rate cut induced bounce has delivered a little short term pricing power, which will fade.
Look at that series of lower lows on the yearly chart above. Looks like the CPI is a skeptic too.
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 | |
Mar Qtr 2012 to Jun Qtr 2012 |
Jun Qtr 2011 to Jun Qtr 2012 |
| Weighted average of eight capital cities |
% change |
% change | |
|
| |||
| All groups CPI |
0.5 |
1.2 | |
| Food and non-alcoholic beverages |
0.6 |
-3.2 | |
| Alcohol and tobacco |
1.0 |
3.8 | |
| Clothing and footwear |
1.5 |
0.6 | |
| Housing |
0.4 |
3.4 | |
| Furnishings, household equipment and services |
1.5 |
0.7 | |
| Health |
1.5 |
3.6 | |
| Transport |
0.9 |
2.1 | |
| Communication |
-0.3 |
0.9 | |
| Recreation and culture |
-1.3 |
-1.6 | |
| Education |
0.0 |
6.1 | |
| Insurance and financial services |
0.5 |
2.9 | |
| CPI analytical series | | | |
| All groups CPI, seasonally adjusted |
0.6 |
1.2 |
| Trimmed mean |
0.5 |
2.0 |
| Weighted median |
0.7 |
1.9 |
|
| |||
