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Whitord – Geelong Property News: The ABS monthly CPI indicator, released yesterday for October, shows headline inflation has remained steady at an annual rate of 2.1%. While this is close to the bottom of the RBA’s target band, the data has been heavily skewed by the government’s temporary energy bill relief rebate and of course the RBA would be happy about this.
The headline inflation rate came in at 2.1% in the month of October but the trimmed mean inflation rate (or underlying inflation) rose from 3.2% to 3.5%. The central bank’s preferred measure of inflation, trimmed mean, (or underlying inflation) rose from 3.2% to 3.5%. However, it’s worth noting the RBA places significantly more weight on the quarterly ABS CPI results rather than the more volatile monthly figures.
John Moran
Director
21 Huntingdon Street, Newtown - A high end home in a quality street. Boasting a flexible floor plan of three or four bedrooms, two bathrooms, multiple living and entertaining zones, a pool, a double garage from the rear lane and off street car space from the front.
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