Summary: Melbourne Institute Inflation Gauge index up 0.3% in March; up 5.7% on annual basis; ACGB yields up; rate cut expectations soften; implies 0.1% increase in March 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...