The Melbourne Institute’s monthly inflation gauge surged by 0.9% in July, marking the largest monthly increase in 19 months. On an annual basis, inflation rose to 2.9%, up from 2.4% in June, signalling renewed price pressures in the economy.
Trimmed mean Australian +0.8% m/m in July, also the the most in 19 months
- 2.6% y/y
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At the margin this pushes back on Reserve Bank of Australia rate cut expectations. This data is not as widely regarded as the other inflation data though.
This article was written by Eamonn Sheridan at investinglive.com.
