Australia's Q1 inflation slightly exceeds expectations.

Australia's Q1 headline CPI rose by 1.4% q/q, beating expectations, while both core measures were lower than expected. The RBA has said they are focused on the headline, but they'll be happy with the core move nonetheless. The target band is 2 to 3%, so the result is still below expectations. Non-tradeable inflation measures final goods and services that do not face foreign competition and is an indicator of domestic demand and supply conditions, showing stronger domestic price pressures.