Private inflation index jumps in July; annual rate slows to 5.4%

31 July 2023

 

Summary: Melbourne Institute Inflation Gauge index up 0.8% in July; up 5.4% on annual basis; ACGB yields down modestly; rate-rise expectations firm slightly. 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...

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