Inflation not an issue if the RBA wish to cut again
THE ALL GROUPS CPI 1) rose 0.7% this quarter, compared with a rise of 0.2% last quarter. 2) rose 1.5% over the last twelve months, compared with a rise of 1.3% through the year to the previous quarter. OVERVIEW OF CPI MOVEMENTS 1) The most significant price rises this quarter are automotive fuel (+12.2%), medical and hospital services (+4.5%) and new dwelling purchase by owner-occupiers (+1.5%). 2) The most significant offsetting price falls this quarter are domestic holiday travel and accommodation (-5.4%) and pharmaceutical products (-1.8%).
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