The monthly CPI came out yesterday. Whilst the budget gave the ABS money so the monthly CPI should use the same means as the quarterly we have yet to see this unfortunately.
We can clearly say inflation is falling even given the limited data of the monthly CPI. CBA economics reports the three month annualised CPI is 3.1% and the 6 moth annualised is 4.3%.
We should also remember the effect of rising interest rates has yet to affect the economy much as yet.
This means the RBA should cool it and leave rates where they are. Nothing would be so foolish as to put up rates now only to cut them later this year or early next year.
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