Australia CPI Preview: Forecasts from seven major banks, inflation data to be a key variable for the RBA Australia Inflation RBA AUDUSD Banks
figures will be released on Wednesday, July 26 at 01:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers of seven major banks regarding the upcoming inflation data.
Headline inflation is softening to 5.4% year-on-year in June vs. 5.6% in May. For Q2, headline is expected at 6.2% YoY vs. the prior release of 7.0% while Trimmed Mean is expected at 6.0% YoY vs. 6.6% in Q1.We expect Q2 CPI to show little sequential progress reducing underlying inflation even as YoY rates move lower. While we pencil in trimmed mean inflation of 1.1% QoQ and 6.0% YoY to be in line with the RBA’s May SoMP of 6.
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