Melbourne Institute Survey of Consumer Inflation Expectations in Australia for December 2024.
Jumped to 4.2% from 3.8% in November.
This is what I put together before today's data (which I might have to rethink!):
- Its recently indicated a decline in consumer inflation expectations in Australia. In November 2024, the expected inflation rate decreased to 3.8% from 4.0% in October, marking the lowest level since October 2021.
- This downward trend aligns with the Reserve Bank of Australia's (RBA) efforts to manage inflation within its target range of 2–3%. Notably, the RBA maintained its cash rate at 4.35% during its November and December meetings, citing a significant decline in headline inflation and expectations of continued lower levels.
- The survey's findings suggest that consumers perceive a moderation in price increases, which could influence their spending and saving behaviors. Additionally, the decline in inflation expectations may impact wage negotiations and business pricing strategies, as both consumers and firms adjust their outlooks based on anticipated economic conditions.
- Overall, the recent behavior of the Melbourne Institute Survey indicates a tempering of inflation expectations among Australian consumers, reflecting broader economic trends and monetary policy stances aimed at maintaining price stability.
Yeah ... definitely going to have top amend this! I'm trying to dig up more on today's results, details can be difficult to come b y immediately.
From the RBA website:
