🇦🇺*AUSTRALIA Q2 INFLATION RATE 0.8% Q/Q, EST. 0.7%
- Rosbel Durán
- Jul 27, 2021
- 1 min read
*AUSTRALIA Q2 INFLATION RATE 3.8% Y/Y, EST. 3.8%
ABS:
Trimmed mean and Weighted median are measures of underlying inflation which exclude large, one-off price impacts. Trimmed mean annual inflation was 1.6% in the June quarter, which has increased from 1.1% in the March quarter.
A resurgence in global demand for oil saw fuel prices rebound to above pre-COVID March 2020 quarter levels in the June 2021 quarter.
Prices for new dwellings fell 0.1% in the June 2021 quarter. Without the offset from the housing grants, the new dwellings series would have risen 1.9%, reflecting demand driven increases in materials and labour costs.
It is expected that these grants will continue to impact the measurement of new dwelling purchases over the next few quarters as applications are finalised and grants are paid.
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