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By Greg Peel
Well it surprised me, but wouldn’t have surprised economists. A 1.2% rise in headline June quarter CPI is up strongly from the 0.1% of last quarter but at the top of the consensus range. I went grocery shopping on the weekend, and expected more.
On a down day in the market, this might be of some solace. However, we will await the core result, out a bit later, and report on the economist responses a bit later as well. There is so far little to suggest the RBA will be spooked, but the core will be key.
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