The less meaningful monthly CPI was released today by the ABS. The headline was that the reported annual CPI was unchanged, while the underlying rose just a tad. But remember this monthly series is only partial, being goods heavy while the services sector is the problem child at the moment, which is why the RBA prefers to look at the quarterly numbers, which are a couple of months away.
Annual trimmed mean inflation excluding volatile items and holiday travel was 2.8 per cent in January, up slightly from 2.7 per cent in December.
Nothing here to move the dial.
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