Australian Bureau of Statistics releases first-quarter inflation report in Sydney Wednesday.
CPI unchanged Q/Q vs est. 0.2% gain. Weighted median CPI rose 0.1% Q/Q vs est. 0.4% gain. Trimmed mean CPI advances 1.6% Y/Y vs est. 1.7% gain. CPI climbs 1.3% Y/Y vs est. 1.5% gain. Weighted median CPI increases 1.2% Y/Y vs est. 1.6% gain
AUD trades at 70.51 U.S. cents in Sydney from 70.92 cents pre-data
Oil prices stormed back in the first quarter, recovering from worries about a global oversupply that pushed crude into a nosedive to end 2018
Australia’s central bank generally focuses on core inflation, a combination of the trimmed mean and weighted median gauges that smooth out sharp rises and falls.
Source : Bloomberg