Via Westpac:
September is a seasonally strong quarter due to the post June 30 price resetting of many administered prices and as such, the ABS seasonal factors moderate our estimate to a seasonally adjusted 0.4%.
Key factors in Q3 are: the ongoing grocery competition holding back food prices; the annual repricing of the tobacco excise; surging electricity prices but decent gains in dwelling construction costs (especially in Sydney and Melbourne); almost flatrents; falling health; transport (including fuel) and communication prices.
