Australian and New Zealand Inflation Monitor

The report provides a monthly inflation monitor for Australia and New Zealand, forecasting persistent annual inflation rates of 4.2% for Australia in May. It highlights that while fuel prices have declined, indirect inflationary pressures from materials and services are rising.

Key Takeaways

• 1.Australian headline CPI expected to fall 0.4%mom in May, keeping annual inflation at 4.2%yoy.
• 2.Indirect pass-through of higher fuel prices is expected to intensify across consumer goods like new dwelling purchases and meals.
• 3.New Zealand monthly price data showed a decline in fuel and airfares offset by rising restaurant/food prices.

Table of Contents

• Australia
• Automotive fuel
• Materials and chemical costs
• Airfares and holiday travel
• Housing
• Market services
• Inflation expectations
• New Zealand
• Disclosure Appendix

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