And for the y/y, comes in at 2.3% (prior 1.8%)
- 0.3% m/m (prior 0.5%)
- 1.6% y/y (prior 0.7%)
The RBA target band for core inflation (trimmed mean is a guide to this) is 2 to 3% y/y.
The RBA meet tomorrow on monetary policy. The Bank is viewing any inflation as transient only and will leave policy on holda at its current ultra loose settings.