The deflationary shock of COVID-19 won’t hit till Q2 but price pressures were already easing in Q1, per Westpac Institutional Bank. Australia will release CPI data on Wednesday, April 29 at 01:30 GMT.
Key quotes
“Westpac is forecasting a 0.1% rise in the March quarter CPI but due to base effects the annual pace lifts to 1.9%yr from 1.8%yr. However, the pace is clearly moderating with the six month annualised pace easing back to 1.6%yr from 1.9%yr.”
“The trimmed mean is forecast to rise 0.3%qtr/1.6%yr and the weighted median is forecast to rise 0.3%qtr/1.4%yr. The six month annualised pace of the trimmed mean is set to ease to 1.4%yr from 1.7%yr.”
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