Aussie monthly inflation soft

Wednesday 27 March 2024

ABS with the report.

The monthly CPI indicator rose 3.4% in the 12 months to February.
The most significant price rises were Housing (+4.6%), Food and non-alcoholic beverages (+3.6%), Alcohol and tobacco (+6.1%) and Insurance and financial services (+8.4%).’

The consensus was 3.5% so a bit soft.

Services and food coming off. Goods firmed a bit. Banks taking the piss. Housing has come off with bill subsidies as Albo hides his own blundering.

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.