Australia Macro Updates

The One Stop Portal for Australia Macroeconomic Data. Simplified and Summarized!

We simplify and summarize key data so that you don’t have to spend hours reading confusing and long media releases. Read key economic releases and major events here in under 2 minutes. And we will explain the key takeaway for you. Stay informed and form a robust view on macroeconomic matters to aid your successful investment decisions

31st Jan 2024

Quarterly CPI Indicator

Key takeaway: Australia’s quarterly CPI indicator has been the key gauge of inflation in Australia over the years. The Australian Bureau of Statistics commenced a more timely monthly CPI indicator from July 2022. However, market participants pay close attention to the quarterly report as it forms the key base for RBAs monetary policy decisions. The CPI, as per the latest quarterly release on 31st Jan 2024, rose 0.6% in the 4Q 2023. Over the past 12 months, the CPI rose 4.1%. This y-o-y CPI number is lower than 5.4% recorded in the previous quarter and also substantially lower than the peak of 7.8% recorded in the 4th quarter of 2022. While inflation is substantially lower than its peak, it still remains significantly high for RBAs comfort. Goods and Services inflation, both declined in the 4th quarter, with some goods categories recording outright deflation compared to last year. Annual CPI for Services also declined from 6.8% in Q3 2023 to 4.6% in Q4 2023. One of the key aspects to note is that inflation in categories like housing prices, rents, insurance and electricity still remains substantially high at over 5%.