The UOB Group experts take a look at the inflation figures from Australia.
Important quotes
“The Australian consumer price index for the fourth quarter of 2020 was 0.9% q / q above the estimate of 0.7% q / q after it was 1.6% q / q in the third quarter.
“Compared to the same period last year, CPI rose 0.9% y / y from 0.7% y / y in the previous three months. The rise in annual inflation largely reflects the end of free childcare and higher gasoline prices, and contributed to Reversal of the 0.3% y / y decline in the June quarter at. These effects are largely eliminated in the measurement of underlying inflation, with the trimmed mean at a record low of 1.2% y / y (0.4% q / The weighted average of the Reserve Bank of Australia (RBA) rose by 0.5% q / q, after a revised 0.2% q / q in 3Q20. Compared to the same period last year it was 1.4% y / y, also higher than the revised 1.2% y / y in the previous quarter. “
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