Aussie Monthly CPI Preview
More of the same
Australia’s April CPI will be released on Wednesday.
We expect year-ended headline inflation to have been ~3.6% y/y, similar to the 3.5% y/y outcome for March.
In monthly terms, we expect a rise in the CPI of ~0.7% m/m, which would translate to a 0.3-0.4% m/m rise in seasonally adjusted terms.
Seasonal strength in holiday travel & accommodation prices is expected to have contributed roughly half of monthly CPI inflation in April; hence, the headline outcome is very sensitive to travel prices in April.
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