Australian MI monthly inflation for February +0.4% m/m (prior +0.9%)

Melbourne Institute Inflation Gauge +0.4% m/m in February

• prior +0.9%

for the y/y +6.3%

• prior +6.3%

Core inflation Inflation Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Inflation is defined as a quantitative measure of the rate in which the average price level of goods and services in an economy or country increases over a period of time. It is the rise in the general level of prices where a given currency effectively buys less than it did in prior periods.In terms of assessing the strength or currencies, and by extension foreign exchange, inflation or measures of it are extremely influential. Inflation stems from the overall creation of money. This money is m Read this Term, measured by the trimmed mean, was +0.7% m/m and 4.9% y/y (prior 5.3%).

While the headline m/m has fallen back it still too high at 0.4% m/m, and the underlying (core) inflation is even further elevated. The RBA won't take a lot of solace from this data.

• AUD traders heads up: RBA 'shadow board' recommends a 25bp cash rate hike on Tuesday 7 Feb

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The Melbourne Institute Inflation Gauge is produced by the Melbourne Institute of Applied Economic and Social Research at the University of Melbourne

Its a well-respected early indication of inflationary trends in the Australian economy, closely monitored by policymakers.
It predates the Australian Bureau of Statistics' monthly CPI measure by many, many years and has a strong track record.