Australia – Melbourne Institute monthly CPI inflation for April: 0.4% m/m (prior 0.4%)

And for the y/y, comes in at 2.3% (prior 1.8%)

Trimmed mean 

  • 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. 

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