Inflation Gauge posts 0.4% rise in July; annual rate falls below 3%

05 August 2024

 

Summary: Melbourne Institute Inflation Gauge index up 0.4% in July; up 2.8% on annual basis; ACGB yields plunge; rate-cut expectations harden, November cut priced in. 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...

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