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The TD Securities-Melbourne Institute’s monthly inflation number is out and rose 0.2 %in October following a 0.1 per cent rise in September. Year on year was 2.3% from 2.2%.
Tradable prices rose 2.2 per cent up from 1.9 per cent in September. Annette Beacher, head of Asia-Pacific Research at TD Securities reckons that this could be “a sign of things to come with the sustained depreciation of the exchange rate from the peak of 95 US cents in early July.”
Maybe. Then again, probably not, given commodity prices including oil are falling even faster. Beacher was one of the most hysterical hawks during the recent very obviously temporary spike.
The trimmed mean rose 0.1% month and month and to 2.5% year on year.
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Consumer price inflation is weak.
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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