Roy Morgan Research has released its inflation expectations survey for January, which reveals that Australians expected inflation of only 3.6% over the next two years, unchanged on December:
Inflation expectations remained 0.3% below the same time last year (January 2020).
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Inflation Expectations are now heavily correlated with age. Older Australians born before 1946 – the so-called ‘Pre-Boomers’ – now have the highest Inflation Expectations at 3.8%, and with the biggest increase of 0.7% points since the mid-2020 record lows.
By contrast, younger Australians aged under 30 in Gen Z who now have the lowest Inflation Expectations of any generation at only 3.3%, and up only 0.1% points since the low of June 2020:
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