Australia – Private inflation gauge (March): +0.1% m/m (prior -0.1% m/m)

Monthly gauge of inflation from the Melbourne Institute, a private survey

+0.1 % m/m

2.1% y/y

Trimmed mean 0.0% m/m (i.e unchanged on the month in March)

  • 2% y/y … within the RBA target band (which is 2 to 3%)
  • previous was 2.2% y/y

At 2 % the trimmed mean (a measure of core or underlying inflation) is (only barely) within the RBA target band. If this is confirmed by the official CPI data (which we only get once a quarter here in Australia) the RBA will not be uncomfortable with it. 

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