Melbourne Institute survey of Australian consumer inflation expectations for December 2024.
It jumped to 4.2% from 3.8% in November.
Here's what I put together before today's data (which I may have to rethink!):
- It recently signaled a decline in consumer inflation expectations in Australia. In November 2024, the expected rate of inflation decreased to 3.8% from 4.0% in October, marking the lowest rate since October 2021.
- This downward trend is in line with the Reserve Bank of Australia's (RBA) efforts to manage inflation within the target range of 2-3%. Notably, the RBA kept its cash rate at 4.35% in its November and December meetings, citing a sharp decline in core inflation and expectations of continued lower rates.
- The results of the survey suggest that consumers see an increase in average prices, which may affect their spending and saving behavior. In addition, a decline in inflation expectations could affect wage negotiations and business pricing strategies, as both consumers and companies adjust their outlook based on expected economic conditions. .
- Overall, the recent behavior of the Melbourne Institute Survey indicates that inflation is expected among Australian consumers, reflecting broader economic trends and a monetary policy stance aimed at maintaining price stability.
Yeah…definitely going to change this! I'm trying to dig more into today's results, details can be hard to come by right away.
From the RBA website:
