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The Australian Bureau of Statistics has released the September quarter CPI and inflation is easing at 0.5% (0.4 expected) for the quarter and a tame 2.2% for the year. The analytical series are now easing as well with the trimmed mean at 0.4% and 2.5% and weighted median 0.6% and 2.6%. All figures are down sharply from June QTR growth rates:
SEPTEMBER KEY FIGURES
 | |
Jun Qtr 2014 to Sep Qtr 2014 |
Sep Qtr 2013 to Sep Qtr 2014 |
| Weighted average of eight capital cities |
% change |
% change | |
|
| |||
| All groups CPI |
0.5 |
2.3 | |
| Food and non-alcoholic beverages |
1.2 |
3.5 | |
| Alcohol and tobacco |
1.1 |
7.3 | |
| Clothing and footwear |
-1.0 |
-2.7 | |
| Housing |
0.5 |
2.3 | |
| Furnishings, household equipment and services |
0.4 |
0.4 | |
| Health |
-0.2 |
4.7 | |
| Transport |
-0.1 |
0.2 | |
| Communication |
-1.4 |
-1.8 | |
| Recreation and culture |
0.6 |
1.9 | |
| Education |
0.1 |
5.2 | |
| Insurance and financial services |
0.6 |
1.2 | |
| CPI analytical series | | | |
| All groups CPI, seasonally adjusted |
0.1 |
2.2 |
| Trimmed mean |
0.4 |
2.5 |
| Weighted median |
0.6 |
2.6 |
Not much to concern the RBA here…
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Detailed post to come for members.
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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