Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.
The January Melbourne Institute inflation gauge rose strongly to 6.4% y/y from 5.9%, a new series high. The trimmed mean was also higher at 5.3% y/y from 4.2%. Both series rose 0.9% m/m, which is a concern. After the new monthly CPI rose to 8.4% y/y in December, this increase in the MI inflation gauge for January is not good news and may signal that inflation is yet to peak and could be proving sticky. In addition, MI inflation expectations are off their peak but seem stuck above 5%. Thus, the inflation situation continues to put pressure on the RBA to tighten further beyond the February meeting. A 25bp hike is widely expected for tomorrow.
Australia CPI vs MI inflation gauge y/y%
Source: MNI - Market News/Refinitiv/ABS
Why MNI
MNI is the leading provider
of intelligence and analysis on the Global Fixed Income, Foreign Exchange and Energy markets. We use an innovative combination of real-time analysis, deep fundamental research and journalism to provide unique and actionable insights for traders and investors. Our "All signal, no noise" approach drives an intelligence service that is succinct and timely, which is highly regarded by our time constrained client base.Our Head Office is in London with offices in Chicago, Washington and Beijing, as well as an on the ground presence in other major financial centres across the world.