Inflation Gauge jumps in May, “consistent with broader-based price pressures”

06 June 2022

 

Summary: Melbourne Institute Inflation Gauge index up 1.1% in May; up 4.4% on annual basis; consistent with acceleration of broader-based price pressures. 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 and the CPI have diverged for...

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