Monthly CPI misses again

Wednesday 26 March 2025

Via the ABS.

CPI analytical series

Seasonally adjusted 2.4
CPI excluding volatile items* and holiday travel 2.7
Annual trimmed mean 2.7

Most are components coming off except regulated prices like education, alcohol and tobacco, and health, which will fall in due course given they are indexed to the headline benchmark, which has crashed.

It’s over.

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.