Preview of Australian Q3 CPI data due today – risks skewed to the upside

<p>Commonwealth Bank of Australia forecast for today's Q3 Australian inflation report.</p><ul><li>the data is due at 0030 GMT (2030 US Eastern time)</li></ul><p>In brief:</p><ul><li>We forecast headline CPI rose by 0.9% in Q3 23 ( 5.1%/yr)</li><li>Trimmed mean CPI is expected to have increased by 1.0%/qtr (4.9%/yr)</li><li>These numbers are broadly similar to the RBA’s implied profile in the August Statement on Monetary Policy.</li><li>We view the risks to our inflation forecast as skewed to the upside. </li><li> An outcome in line with our forecast is consistent with monetary policy on hold in November.</li></ul><p>Earlier:</p><ul><li><a href="https://www.forexlive.com/centralbank/aud-traders-nab-says-cpi-data-to-be-higher-than-rba-expects-forecast-november-rate-hike-20231023/" target="_blank" rel="follow" data-article-link="true">AUD traders – NAB says CPI data to be higher than RBA expects, forecast November rate hike</a></li><li><a href="https://www.forexlive.com/centralbank/the-good-news-bad-news-preview-of-australia-cpi-data-due-wednesday-20231023/" target="_blank" rel="follow" data-article-link="true">The good news / bad news preview of Australia CPI data due Wednesday</a></li></ul>

This article was written by Eamonn Sheridan at www.forexlive.com.