The NAB Consumer Stress Index has eased to a 2-year low and marks its 50th iteration.
Insight
We expect Q4 underlying inflation to print at 0.6% (2.3% through the year) on Wednesday. This would be the fifth successive outcome in the bottom half of the RBA target range. Subdued wages growth and weak domestic demand continue to keep core inflation well under control.
Wednesday’s CPI likely to confirm low inflation environment: still well inside RBA comfort zone.
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