Australian CPI Preview: Forecasts from six major banks, inflation to have declined further
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The Australian Bureau of Statistics (ABS) will release the Consumer Price Index (CPI) for December and the fourth quarter (Q4) of 2023 on Wednesday, January 31 at 00:30 GMT and as we get closer to the release time, here are forecasts from economists and researchers of six major banks regarding the upcoming inflation data.
Headline is expected at 3.7% year-on-year in December vs. 4.3% in November. If so, this would be the lowest since December 2021 but still above the Reserve Bank of Australia’s (RBA) 2-3% target range. For the fourth quarter, both headline and trimmed mean inflation are expected at 4.3% YoY.
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