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Last week’s monthly inflation indicator from the Australian Bureau of Statistics suggested inflationary pressures had begun to ease (chart from Callam Pickering at Indeed):
Yesterday, The Melbourne Institute’s November Inflation Gauge came in at +1% month-on-month to be up 5.9% year-on-year. This was up from +0.4% month-on-month and 5.2% year-on-year, thus contradicting the ABS’ monthly inflation indicator.
However, the one silver lining was that the Melbourne Insitute’s trimmed mean was +0.7% month-on-month and 4.9% year-on-year, which was unchanged and tentatively suggests a peaking in underlying inflation (chart from Shane Oliver at AMP):
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About the author
Leith van Onselen is Chief Economist at the MB Fund and MB Super. He is also a co-founder of MacroBusiness.
Leith has previously worked at the Australian Treasury, Victorian Treasury and Goldman Sachs.
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