Aussie CPI Q2: Ttrimmed mean CPI -0.1 vs Reuters poll +0.1 pct

Australia’s Q2 Consumer Price Index data has just been released.

• Australia q2 rba trimmed mean cpi -0.1 pct q/q (reuters poll +0.1 pct)
• australia q2 cpi (all groups) -1.9 pct q/q (reuters poll -2.0 pct)
• australia q2 rba weighted median cpi +0.1 pct q/q (reuters poll +0.1 pct)
• australia q2 rba trimmed mean cpi +1.2 pct yr/yr (reuters poll +1.4 pct)
• australia q2 cpi (all groups) -0.3 pct yr/yr (reuters poll -0.4 pct)
• australia q2 rba weighted median cpi +1.3 pct yr/yr (reuters poll +1.2 pct)
• australia q2 rba weighted median cpi +1.3 pct yr/yr (reuters poll +1.2 pct)

AUD/USD implications

Given the extreme condition of the economy in Q2, the RBA is unlikely to place much weight on this data, analysts at Westpac argued.

Description of the Consumer Price Index 

The Consumer Price Index released by the RBA and republished by the Australian Bureau of Statistics is a measure of price movements by the comparison between the retail prices of a representative shopping basket of goods and services. The trimmed mean is calculated as the weighted mean of the central 70% of the quarterly price change distribution of all CPI components, with the annual rates based on compounded quarterly calculations.