Australia - Melbourne Institute Inflation (January): 0.6% m/m (prior 0.5%)

This is private inflation survey, conducted monthly (we get official data only once a quarter for inflation in Australia)

0.6% m/m

• prior 0.5%

2.1 % y/y 

• prior 1.8% y/y

Trimmed mean 0.6% m/m and 2.2% y/y

• prior 0.5% m/m, 1.4% y/y
  

On Friday (10 February) this week the RBA publish their Statement on Monetary policy. The Statement will update the Bank"s forecast outlook for inflation and GDP. If the RBA is seeing the same sort of inflation developments as indicated in this private inflation gauge data today it seems reasonable the RBA may well boost their inflation profile outlook. This is a bullish input for the AUD (it firms the case for those looking for an end to the easing cycle (the "rate hike in 2017" camp will also get a boost from this)).

--

The Reserve Bank of Australia target band for inflation is 2 to 3% (the RBA is tolerant to some moves outside the band) - it"s the core inflation (the RBA generally use the "trimmed mean" for the "core") that is targeted at 2 - 3%.

Australia - Melbourne Institute Inflation (January): 0.6% m/m (prior 0.5%)
Australia - Melbourne Institute Inflation (January): 0.6% m/m (prior 0.5%)
http://www.forexlive.com/feed/news
$inline_image !!! CLICK HERE TO READ MORE !!! Australia - Melbourne Institute Inflation (January): 0.6% m/m (prior 0.5%) Forex Blog | Free Forex Tips | Forex News http://www.forextutor.net/australia-melbourne-institute-inflation-january-0-6-mm-prior-0-5/