Australian inflation another nothing burger

Via the ABS:

December Key Statistics

The All groups CPI

• rose 0.7% this quarter, compared to a rise of 0.5% in the September 2019 quarter.
• rose 1.8% over the twelve months to the December 2019 quarter, compared to a rise of 1.7% over the twelve months to the September 2019 quarter.

Overview of CPI movements

• The most significant price rises this quarter are tobacco (+8.4%), domestic holiday, travel and accommodation (+7.3%), automotive fuel (+4.4%), and fruit (+6.8%).
• The most significant price falls this quarter are international holiday, travel and accommodation (-2.9%), garments for women (-2.5%) and wine (-1.6%).

All Groups CPI, Quarterly change

		Sep Qtr 2019 to Dec Qtr 2019	Dec Qtr 2018 to Dec Qtr 2019
Weighted average of eight capital cities		% change	% change
All groups CPI		0.7	1.8
Food and non-alcoholic beverages		1.3	2.6
Alcohol and tobacco		3.0	6.5
Clothing and footwear		-0.3	1.4
Housing		0.1	0.2
Furnishings, household equipment and services		-0.3	1.1
Health		-0.3	3.2
Transport		1.5	2.8
Communication		-1.0	-3.8
Recreation and culture		0.9	1.5
Education		0.1	2.9
Insurance and financial services		0.4	0.7
CPI analytical series
	All groups CPI, seasonally adjusted	0.6	1.8
	Trimmed mean	0.4	1.6
	Weighted median	0.4	1.3

Slight headline beat on stuff that is already collpasing in price, holidays and oil. Fruit is fire related. Tobacco is tax-related. Core inflation going absolutely nowhere.

Nothing here to stop the RBA if it wishes to move.

More to come.