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ABS monthly inflation out. Expected was 7.1%. The result was 6.8%:
There is a LOT of embedded disinflation in foods, goods, housing, utilities and travel yet to play out. Rents are a problem.
The ABS does not release a monthly figure but Westpac decomposes and I will report it when it comes.
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It looks like Aussie inflation is weakening fast, along with everything else.
RBA done.
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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