Core numbers increase despite stable inflation, undermining expectations

Core numbers increase despite stable inflation, undermining expectations of a second rate decrease.
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Core numbers increase despite stable inflation, undermining expectations of a second rate decrease.In the 12 months leading up to January, inflation stayed stable at 2.5%, while a crucial indicator of core inflation increased little. Although Australia's monthly consumer price index has not changed for January, expectations of a second interest rate drop in the first half of the year have been dashed by a modest increase in core inflation. Inflation for the 12 months ending in January remained at 2.5% in the most recent data issued this morning by the Australian Bureau of Statistics (ABS), exceeding market estimates for a little increase to 2.6%. However, the trimmed mean, a crucial indicator of core inflation, unexpectedly increased to 2.8. 
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The monthly data, which is regarded as less significant than the ABS's quarterly estimates, was released one week after the Reserve Bank lowered interest rates but cautioned that more work needed to be done to return inflation to goal in a sustainable manner. Prior to today's data release, the market had been pricing in a 19% likelihood of a cut at the next RBA board meeting in�

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