the new monthly CPI was released yesterday.
The good news is the annual rate slowed somewhat. The bad news is that the trimmed mean was still too high. annualise 0.3% and you get a high figure this I disagree with Greg Jericho.
However let us first add in a caveat. It is a new series. There will be problems to start with. They maybe large but more probably small and we won't know this ex-ante only ex-post !
I think we have enough information to say we do not have a number of outliers.
We have a problem of potential GDP growth as Mark the Graph points out. CBA economic research agree with him ( or is it vica versa).
Jim Chalmers is in an invidious position.
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