RBA Core Inflation Forecast to Reach 3.7% Despite Consensus Expectations
The Reserve Bank of Australia's (RBA) preferred core Consumer Price Index (CPI) is expected to rise 0.9% in Q2, matching consensus and up from 0.8% in Q1.
This would lift annual core inflation to 3.7%, just below the RBA's 3.8% projection.
TD Securities strategists also see headline CPI at 4.2% y/y in June, with higher rents and dwelling costs posing upside risks.