Australian inflation surprises to the upside in Q1 2015

FXStreet (Bali) - Australia's inflation figures came better than expected in Q1 2015, an outcome that should help the case for the RBA to remain neutral for the time being, waiting further fundamental developments in the country.

Key headlines

Australia Consumer Price Index (YoY) meets expectations (1.3%) in 1Q

Australia RBA trimmed mean CPI (YoY) above expectations (2.2%) in 1Q: Actual (2.3%)

Australia Consumer Price Index (QoQ) in line with expectations (0.2%) in 1Q

Australia RBA trimmed mean CPI (QoQ) meets forecasts (0.6%) in 1Q

Q1 key figures

THE ALL GROUPS CPI: rose 0.2% in the March quarter 2015, compared with a rise of 0.2% in the December quarter 2014. rose 1.3% through the year to the March quarter 2015, compared with a rise of 1.7% through the year to the December quarter 2014.

OVERVIEW OF CPI MOVEMENTS: The most significant price rises this quarter were for domestic holiday travel and accommodation (+3.5%), tertiary education (+5.7%) and medical and hospital services (+2.2%). The most significant offsetting price falls this quarter were for automotive fuel (-12.2%) and fruit (-8.0%).