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In fact, it’s lower than donut, it fell o.1 on the month, leaving the annual rate at a paltry 2.5% or lower still on the low volatility measures:
Here’s the monthly chart:
And annual:
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As I’ve been arguing all year, there is bugger all inflation in the pipe and its going to fall further as we move towards mid next year unless the dollar corrects. If you’re not already long a rate cut tomorrow, now’s a good time!
About the author
David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific's leading geo-politics and economics portal.
He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.
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