A fall on Wall Street sends Australian stocks lower, while the August monthly CPI figure is tipped to edge higher. Follow the latest updates in our live blog.
NAB expects
August CPI Indicator to rise to an annual pace of 5.2 per cent from July’s 4.9 per cent, in line with the consensus.The bank also predicts prices of fruit and vegetables to slide further in August following strong winter growing conditions. "More broadly, food inflation has slowed from nearly 10 per cent to 5.6 per cent year on year in July and [we] expect it to cool further to below 4 per cent year on year in August," NAB said."We expect robust price increases across components including meals/takeaway, hairdressing and other household and recreation services, to contrast against cooling grocery and durable goods inflation," NAB said.
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