Join our daily newsletter At The Bell to receive exclusive market insights
Here’s some further proof the Australian investor (and trader) has long since stopped caring about the local inflation read – as long as there’s no surprise upside shock.
The ASX200 shrugged at the latest ABS data showing Australian core inflation remains within the RBA’s target band of 2-3%.
About a year ago, that probably would have moved the local market. But in the current era, that wasn’t quite enough to garner interest.
(In fact, it hasn’t been for a while, even before Trump came back and we were in an election season – I’ve been writing about inflation fatigue for a while in the ASX context.)
Still, all in all, the country remains well on-track in its disinflationary efforts.
“Annual trimmed mean inflation, which excluded the annual fall in Electricity, alongside other large price rises and falls, was 2.7% in March, in line with February (+2.7%),” the ABS wrote on Wednesday.
“The monthly CPI indicator excluding volatile items and holiday travel rose 2.6% in the 12 months to March following a 2.7% rise in the 12 months to February. This series excludes Automotive fuel, Fruit and vegetables, and Holiday travel and accommodation.”
For those playing at home, Australia’s Trimmed Mean Inflation (TMI) is the equivalent to the USA’s “core inflation.”
Join the discussion: See what’s trending right now on HotCopper, Australia’s largest stock forum, and be part of the conversations that move the markets.
