September “underlying” CPI surprises; market expects rate rises sooner

27 October 2021

 

Summary: Annual Inflation rate slows to 3.0% in September quarter, in line with market expectations; RBA preferred measure rises to 2.1%, above expected figure; housing, transport costs main drivers of result. In the early 1990s, high rates of inflation in Australia were reined in by the “recession we had to have” as it became known. Since then, underlying consumer price inflation has averaged around 2.5%, in line with the midpoint...

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