Underlying Australian inflation highest of major developed economies
Advertisement
With the release of the latest inflation data from the ABS came relief that a rate rise at the August RBA meeting was now largely off the table.
The RBA’s May forecasts in their latest Statement on Monetary Policy (SOMP) included an annual trimmed mean inflation rate of 3.8% for the year ending in June.
In reality, a figure of 3.6% was produced, significantly below the RBA’s expectation and below the analyst consensus of 3.7% year on year.
Advertisement
The full text of this article is available to MacroBusiness subscribers
Cancel at any time through our billing provider, Stripe
About the author
Tarric is an Australian freelance journalist and independent analyst who covers economics, finance, and geopolitics. Tarric is the author of the Avid Commentator Report. His works have appeared in The Washington DC Examiner, The Spectator, The Sydney Morning Herald, News.com.au, among other places.
Advertisement