CPI figures released by the Australian Bureau of Statistics yesterday, hailed as great news. I will keep political references out of this post, bear with me.
The figs from the ABS release:
For those after more detail, check out that link (above) to the ABS.JUNE KEY POINTS
THE ALL GROUPS CPI
* rose 0.6% in the June quarter 2010, compared with a rise of 0.9% in the March quarter 2010.
* rose 3.1% through the year to June quarter 2010, compared with a rise of 2.9% through the year to March quarter 2010.
Some of the reporting, highlighting mine:
http://www.theaustralian.com.au/nati...-1225898200380THE best set of inflation figures in three years has saved the government and home buyers from a forecast interest rate rise next week.
The key measure of core inflation tracked by the Reserve Bank dropped to just 2.7 per cent for the year to June, the lowest since mid-2007,
http://www.theage.com.au/federal-ele...728-10w66.htmlThe Reserve Bank board meeting will vote to leave interest rates on hold on Tuesday after the closely watched underlying rate of inflation slid to 2.7 per cent, the first time it has been below 3 per cent and within the bank's target band for three years.
It is very encouraging that inflation is low while the rate of job creation in the economy very strong:
http://www.theage.com.au/federal-ele...728-10w66.htmlAustralia created 45,900 jobs in June, the 11th successive month in which employment has climbed, typically at the rate of about 1000 jobs per day.
This combination of low inflation and jobs created at about 1,000 per day is great news for the economy.