Monthly inflation comes in hotter than forecast, and retail sales beat expectations. Follow the latest here.
New Zealand Bank expects the new monthly consumer price inflation data to reach 7 per cent in Australia for December year-on-year.Consensus expectations also call for trimmed mean inflation to climb to 5.5 per cent in November in a slight rise from the 5.3 per cent in October.
“There will be upward pressure from flooding but downward pressure from easing global supply chain constraints. A jump in electricity prices won’t be reflected in household bills until the December data though,” ANZ said.Retail sales data is also out today with ANZ’s economics team expecting a 0.6 per cent month-on-month rise for December. It said this will reverse the 0.2 per cent decline in November.
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