ONLY CHARTS #520
Oil & petrol prices, NZ residential rents, NZ new housing loans by maturity, China CPI, Cross-country retail trade, US labour market transitions
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1. The surge higher in oil prices today, if sustained, will support much higher petrol prices in Australia. The question is for how long? Petrol’s CPI weight in Australia is a bit over 3%.
The average Unleaded91 price currently in Sydney is $2.08/litre, up 30 cents per litre since end-February.
2. A bit more evidence that CPI rents disinflation in New Zealand may have run its course with growth in median rents in newly lodged rental bonds picking up again in January.
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