Economic wrap: eyes on Aussie CPI - Westpac

Analysts at Westpac offered an economic wrap.

Key Quotes:

"US house prices (CoreLogic) rose 0.7% in August (vs 0.4% expected), 5.1% yoy, with all 20 cities posting annual gains. Consumer confidence fell from 103.5 to 98.6 (vs 101.5 expected), probably affected by the looming November election. Richmond Fed manufacturing improved from -8 to -4 (as expected) but the detail was mixed. Small business sentiment (IBD) rose from 46.7 to 51.3 (vs 47.5 expected).

Economic Event Risks Today

Australia Q3 CPI: Westpac expects a 0.9% qoq rise in headline inflation on food; utilities and seasonality. The core measure should remain benign at 0.4% qoq, 1.6% yoy."