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Weekly Economic Commentary

Weekly Economic Commentary

Categories: General, General

In another holiday-shortened week the focus this week will be on the March quarter CPI data out this Wednesday. While the underlying drivers of inflation remain subdued, the March quarter is likely be boosted by a perfect storm of higher electricity, petrol and fresh fruit and vegetable prices. Economists are forecasting a rise in the headline CPI of 0.7% (2.3% annually) and a 0.5% rise in underlying inflation (1.8% annually). Despite the rise, the underlying CPI remains below the RBA’s target range (of 2% to 3%) and should therefore not change the outlook for a steady official cash rate.

Core Measures of Inflation Chart

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Source: Rural Bank


Disclaimer: Whilst all care has been taken in compiling the information, the information should not be relied upon as substitute for professional advice where necessary. Rural Bank accepts no responsibility for the accuracy, completeness or timeliness of the information and disclaims all liability in relation to any loss or damage suffered by the use of or reliance upon any information contained herein or in any attachment or annexure hereto by any person. Rural Bank – A Division of Bendigo and Adelaide Bank Limited ABN 11 068 049 178 AFSL 237879