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Inflation Gauge Confirms Inflation Peak Behind Us

AUSTRALIA DATA

The Melbourne Institute’s inflation gauge eased to 5.7% in March from 6.3%, indicating that it likely peaked in January at 6.4%. It rose 0.3% m/m after 0.4% in February and 0.9% in January. The trimmed mean measure rose 0.4% m/m and 5.2% y/y, which rose 4.9% the previous month. The MI inflation gauge is signalling that price pressures persist but are easing. Analysts are divided over the outcome of Tuesday’s RBA meeting. Q1 CPI data is released on April 26, which should give a clearer picture on domestically-driven inflation.


Australia CPI vs MI inflation gauge y/y%

Source: MNI - Market News/Refinitiv/ABS

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