Tuesday, April 24

CPI Q1 2012

Wow! Was that the sound of the CPI hitting the floor? Headline CPI grew at 0.1 per cent Q/Q to be 1.6 per cent higher through the year (tty). Core inflation, grew at 0.35 per cent Q/Q to be 2.15 per cent high through the year. [Source: ABS Consumer Price Index for Q1 2012].

Ladies and gentlemen, I think it safe to say that we have a rate cut come the first Tuesday in May. Big question is: How much of a rate cut?

Let's start with the charts of most interest to the RBA: the core inflation rate.



The headline result ... note the impact of seasonal adjustment ...




Goods versus services ... bit of a spider here if the AUD falls significantly ...




Tradable versus non-tradable ... the "what happens if the AUD declines significantly spider" is even more evident here ...



 
CPI growth by city



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2 comments:

  1. Cameron Murray24 April 2012 at 13:12

    Stumbled on your blog through the guys at MacroBusiness. Great stuff. Just a short request - can you put a note with the data sources (even links or at least top level domains) for each chart? I know this is pretty obvious for ABS watchers, but you always put up a lot of interesting stuff, and others would be interest in seeing the raw data as well.

    Thanks
    Cam

    ReplyDelete
  2. Mark Graph24 April 2012 at 14:39

    Good point - added the link to the first paragraph.

    ReplyDelete

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