Inflation “remain sticky”; Melbourne Institute gauge up 0.9% in May

05 June 2023

 

Summary: Melbourne Institute Inflation Gauge index up 0.9% in May; up 5.9% on annual basis; Citi: inflation remains sticky; ACGB yields up significantly; rate cut expectations deferred until second half of 2024. 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...

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