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MNI BRIEF: RBA Sees Inflation Surge As Short Term In MPS

MNI (Sydney)
SYDNEY (MNI)

CPI could rise to 5.9% by December, the MPS forecasts.

The Reserve Bank of Australia has significantly increased its inflation forecasts for 2022, but still sees prices falling back sharply by 2024, see: MNI STATE OF PLAY: RBA Could Take Rates To 2.5%, Says Lowe.

The RBA’s released its latest Monetary Policy Statement on Friday forecasting CPI inflation to rise to 5.9% by December before falling back to 2.9% by June 2024. CPI came in at 5.1% in the first quarter of this year. On trimmed mean or underlying inflation, which is the RBA’s preferred measure, the forecast is for 4.6% by December and down to 2.9% by June 2024.

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The Reserve Bank of Australia has significantly increased its inflation forecasts for 2022, but still sees prices falling back sharply by 2024, see: MNI STATE OF PLAY: RBA Could Take Rates To 2.5%, Says Lowe.

The RBA’s released its latest Monetary Policy Statement on Friday forecasting CPI inflation to rise to 5.9% by December before falling back to 2.9% by June 2024. CPI came in at 5.1% in the first quarter of this year. On trimmed mean or underlying inflation, which is the RBA’s preferred measure, the forecast is for 4.6% by December and down to 2.9% by June 2024.

Keep reading...Show less