Analysis of Australian Budget and Inflation Indicators

Wednesday 15th May 2024

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Markets are waiting for US CPI later today. There was some market reaction to he producer price numbers from the US, which NAB’s Gavin Friend described as sticker shock. The core number for April was higher than expected, but markets quickly retraced steps when the March number was revised down. In short, not such a big move after all. UK employment numbers were a little stronger than expected in March, along with wages data. Australia gets its wage inflation data today, as markets come to terms with last night’s Federal Budget. 

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