Analysts at Goldman Sachs offer their afterthoughts on the Australian Q4 CPI report, after the RBA‘s trimmed mean CPI matched expectations.
Key Quotes:
“The trimmed mean is the most closely watched.
The weighted median is the other ‘core’ rate measure. Both have come in unchanged from Q3.
Overall in-line with expectations with underlying stagnating just below the target band.
Increase in headline was driven by alcohol, tobacco but in-line with our expectations.
Other main contributors were recreation and culture owing to higher prices for domestic holiday travel.
Oil prices weighed on headline.
Rents were soft/dragging vs. our expectations.”
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