By Rudi Filapek-Vandyck<\/p>\n
According to the Australian Bureau of Statistics the headline CPI rose by 0.7% in the September quarter taking the annual inflation rate to 1.9%.<\/p>\n
However, the Reserve Bank’s (RBA) statistical measures of core inflation increased strongly, averaging 0.95% in the quarter and 3.0% over the year. The so-called trimmed mean increased by 0.9% in the quarter and 2.9% over the year and the weighted median increased by 1.0% in the quarter and 3.1% over the year.<\/p>\n
These numbers suggest interest rates are likely to go up this year, possibly as early as November.<\/p>\n
The ABS reports the largest contributors to the (headline) CPI increase were for fruit (+9.6%), vegetables (+7.9%), deposit and loan facilities (+2.2%), rents (+1.6%), other financial services (+2.3), house purchase costs (+1.0%) and electricity (+4.3%). Partially offsetting this were price falls for child care (-33.4%), automotive fuel (-3.7%), pharmaceuticals (-4.5%), audio, visual and computing equipment (-2.5%) and furniture (-1.5%).<\/p>\n
FNArena will update on this matter with economist responses later today.<\/p>\n","protected":false},"excerpt":{"rendered":"
The long awaited CPI release for the September quarter is out. And the RBA preferred measure suggests a rate hike should follow soon.<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[6],"tags":[21],"acf":[],"_links":{"self":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/53575"}],"collection":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/comments?post=53575"}],"version-history":[{"count":0,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/posts\/53575\/revisions"}],"wp:attachment":[{"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/media?parent=53575"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/categories?post=53575"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/staging.fnarena.com\/index.php\/wp-json\/wp\/v2\/tags?post=53575"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}