Australia data – monthly headline inflation (from MI) +0.9% m/m, core also +0.9% m/m

MI’s inflation gauge for January 2023 points to continued skyrocketing CPI, this the official data for Q4 and December published earlier:

January monthly Melbourne Institute Inflation comes in at 0.9% m/m

and 6.4% y/y

Trimmed mean 0.9% m/m & 5.9% y/y

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The Reserve Bank of Australia meet tomorrow:

An RBA rate hike is a no brainer given this incongruous picture, the current cash rate juxtaposed with the latest official inflation data: