Australia: Monthly inflation eases -0.1% - TDS

Analysts at TDS note that Australia’s Feb monthly inflation eases -0.1%/mth and 2.1%/yr.

Key Quotes

“Seasonal slump in holiday travel the main drag. Trimmed mean -0.2%/mth but annual picked up to 2.2%/yr. Our tracking for Q1 CPI is for more of the same. Q4 inventories a tad softer at +0.2%/qtr (TD and mkt +0.5%/qtr). Operating profits (+2.2%/qtr) and wages (+1.0%) were firmer than expected. Building approvals jumped +17.1%/mth in Jan, the zigzag of recent months, defying those expecting this sector to shrink. Lastly, ANZ job ads showed some lingering seasonal issues with a Jan spike (+6.2%/mth) followed by a Feb dip (-0.3%/mth).”