Australian Macro Weekly

Australia's April CPI was softer than expected at 0.4% m/m, with trimmed mean inflation moderating to 3.1% on a three-month annualised basis. Soft household spending is providing a counterweight to rising business input costs.

Key Takeaways

• 1.April Consumer Price Index (CPI) was softer than expected, with headline inflation rising 0.4% m/m.
• 2.Trimmed mean inflation on a three-month annualised basis has moderated to 3.1%, just above the RBA target band.
• 3.Household spending saw a significant decline of 1.1% m/m in April, the largest drop since October 2023.

Table of Contents

• The week that was
• Energy/supply chain monitor
• Recent insights
• Data previews
• Forecasts
• Data and event calendar
• Five-week calendar

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