Dollar launches on weak CPI

The ABS is out with September quarter inflation and it’s come in luke warm:

SEPTEMBER KEY FIGURES

		Jun Qtr 2016 to Sep Qtr 2016	Sep Qtr 2015 to Sep Qtr 2016
Weighted average of eight capital cities		% change	% change

All groups CPI		0.7	1.3
Food and non-alcoholic beverages		1.7	1.5
Alcohol and tobacco		1.1	5.7
Clothing and footwear		0.3	1.2
Housing		1.0	1.8
Furnishings, household equipment and services		1.1	1.9
Health		-0.2	3.9
Transport		-0.5	-3.4
Communication		-2.3	-7.5
Recreation and culture		0.6	0.6
Education		0.2	3.3
Insurance and financial services		0.9	2.9
CPI analytical series
	All groups CPI, seasonally adjusted	0.4	1.4
	Trimmed mean	0.4	1.7
	Weighted median	0.3	1.3

Headline was a bit up on expectations but analytical measures were right on and a bit weaker. Dollar to the moon just because:

More to come.

Share

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.