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Financial News: Australia Q3 Inflation Climbs To 0.7% On Year

Australia Q3 Inflation Climbs To 0.7% On Year

10/27/2020 - 21:05:00 (RTTNews)

(RTTNews) - Consumer prices in Australia were up 0.7 percent on year in the third quarter of 2020, the Australian Bureau of Statistics said on Wednesday - in line with expectations following the 0.3 percent decline in the previous three months.

On a quarterly basis, inflation climbed 1.6 percent - exceeding expectations for 1.5 percent following the 1.9 percent contraction in the three months prior.

The Reserve Bank of Australia's trimmed mean was up 0.4 percent on quarter and 1.2 percent on year after slipping 0.1 percent on quarter and gaining 1.2 percent on year in Q2.

The RBA's weighted median was up 0.3 percent on quarter and 1.3 percent on year after rising 0.1 percent on quarter and 1.3 percent on year in the previous three months.

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