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MI Inflation Gauge Lowest In Almost Two Years

AUSTRALIA DATA

The Melbourne Institute inflation gauge for February fell 0.1% m/m and the annual rate eased substantially to 4.0% from 4.6% in January, the lowest since April 2022. The trimmed mean measure rose 0.1% m/m to also be 4% y/y down from 4.6%. The 3-month average rates were in line with the average of the last two months. While, the series is running above the monthly CPI, which is not unusual, it is signalling that the moderation in inflation is likely to continue. January CPI was steady at 3.4% y/y and the February data will be released on March 27.

Australia MI inflation gauge vs CPI y/y%

Source: MNI - Market News/Refinitiv

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