1 Jul 2013
Flash: Australia TDS inflation gives RBA further room to cut - NAB
FXstreet.com (Barcelona) - Today's TDS inflation series in Australia displayed soft levels of price pressures, with the reading flat in June, up 2.4% on a yearly basis, with the trimmed mean decreased to 0.2% in June, up 2.3%yoy, NAB Economist Spiros Papadopoulos notes.
Papadopoulos adds: "For Q2, the TD series would be consistent with the ABS CPI coming in at around 0.4%. The ABS CPI is released on July 24, where we expect the underlying rate to print at 0.6% in Q2 and 2.4% yoy." The NAB Economist thinks that "Prices pressures remain contained and annual growth continues to run in the bottom half of the RBA’s target band, giving the RBA room to cut further if required."
Papadopoulos adds: "For Q2, the TD series would be consistent with the ABS CPI coming in at around 0.4%. The ABS CPI is released on July 24, where we expect the underlying rate to print at 0.6% in Q2 and 2.4% yoy." The NAB Economist thinks that "Prices pressures remain contained and annual growth continues to run in the bottom half of the RBA’s target band, giving the RBA room to cut further if required."