Taste of deflation as CPI plunges

Original article by Sarah Turner
The Australian Financial Review – Page: 6 : 27-Jul-20

The economic impact of COVID-19 will be reflected in the consumer price index data for the June quarter, which will be released on 29 July. The consensus forecast is for a two per cent fall in the quarter and an 0.5 per cent decline in the year to June. However. Westpac economists expect the CPI to have declined by 2.4 per cent for the quarter and 0.9 per cent over the year. The coronavirus lockdown reduced demand for a range of goods and services in the three months to June, including petrol and travel.

CORPORATES
WESTPAC BANKING CORPORATION – ASX WBC

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