Today Australia’s statistics office published quarterly inflation data showing CPI was flat in the first 3 months of this year, taking the annualised rate down to 1.3 per cent from 1.8 per cent growth in the last 3 months of 2018; the weighted and trimmed means came in at 1.6 and 1.4 per cent annualised, respectively. This is the lowest CPI has been since September 2016 and compares to a recent high at 2.1 per cent in March 2017. Worth noting that CPI grew at 1 per cent only in Q2 2016 and Q2 1999, and has been negative only twice: -0.4 per cent in Q3 1997 and -1.3 per cent in Q2 1962.
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