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Financial News: Australia Q1 CPI Rises 0.5% On Quarter

Australia Q1 CPI Rises 0.5% On Quarter

04/25/2017 - 21:45:00 (RTTNews)

(RTTNews) - Consumer prices in Australia were up 0.5 percent on quarter in the first quarter of 2017, the Australian Bureau of Statistics said on Wednesday.

That was unchanged from the previous three months, although it was shy of forecasts for 0.6 percent.

On a yearly basis, inflation advanced 2.1 percent - beneath expectations for 2.2 percent but up from 1.5 percent in the three months prior.

The Reserve Bank of Australia's trimmed mean was up 0.5 percent on quarter and 1.9 percent on year - in line with expectations after adding 0.4 percent on quarter and 1.6 percent in Q4.

The RBA's weighted median was up 0.4 percent on quarter and 1.7 percent on year - slightly beneath forecasts for 0.5 percent on quarter and 1.8 percent on year. In Q4, the mean was up 0.4 percent on quarter and 1.5 percent on year.

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