Summary: Melbourne Institute Inflation Gauge index up 0.2% in June; up 3.2% on annual basis; ACGB yields rise; rate-rise expectations firm slightly; implies 0.5% for June quarter CPI. The Melbourne Institute’s Inflation Gauge is an attempt to replicate the ABS consumer price index (CPI) on a monthly basis. It has turned out to be a reliable leading indicator of the CPI, although there are periods in which the Inflation Gauge...