Australia CPI Preview: Forecasts from five major banks, inflation probably moderated Australia Inflation AUDUSD Macroeconomics Banks
Headline is expected at 7.1% year-on-year vs. 7.4% in January. If so, it would be the second straight month of deceleration but would remain well above the 2-3% target range. “Our expectation for the monthly CPI of a 6.8% yearly increase would imply a monthly outcome of 0.3%, which while solidly above the pre-2022 February averages would represent a step down from the February 2022 result.
are close to a peak, with one more 25 bps hike looking like the most likely outcome now, taking the cash rate target to 3.85%.”“We expect the Monthly CPI Indicator to fall to 7.2% from 7.4% YoY, in line with consensus, but what the services subcomponents say about inflation trends will be as important as the headline given the limitations of the monthly indicator.”“February CPI print will grab attention after the Bank flagged it as a key data point for its April decision.
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