Australian monthly inflation data: +4.7% y/y (prior +4.8%)

Australian Melbourne Institute Inflation - this is the monthly survey.

For June 2022.

Headline

0.3% m/m

• vs. prior 1.1%

4.7% y/y

• prior 4.8%

Trimmed mean

0.3% m/m

• vs. 0.7% m/m in May

1.4% q/q

• from 1.1% q/q in Q1

The official inflation data from Australia only comes once a quarter. This monthly survey fills in the gaps while we (and the RBA!) wait for the official data. A sliver of encouragement with this softer reading.