Australian consumer inflation expectations declined in September

  • Buz Traders Australian  consumer inflation expectations fell to a level of 3.30% in Australia, in September, compared to a reading of 3.50% in the prior month.
  • Australia’s 12-month gauge of inflation expectations dipped to 3.3 percent in September, compared to 3.5 percent in August, data released by the Melbourne Institute showed Thursday. The monthly survey tracks Australian inflation expectations over the next 12 months.
  • Further, the economy’s gross domestic product slowed to 0.5 percent during the second quarter although annual GDP growth rose at its fastest pace in four years. That marked the 21st consecutive quarter of GDP growth.

Australian  consumer inflation Expectations Weaken for Second Straight Month

Australian consumer inflation expectations declined in September

Australian  consumer inflation The Melbourne Institute’s 12-month gauge of inflation expectations dipped to 3.3% in September, compared to 3.5% in August.

The monthly survey tracks Australian inflation expectations over the next 12 months.

The Reserve Bank of Australia (RBA) has slashed interest rates twice this year to fight deflation, which is posing a bigger risk to the economy than at any other time since the 1990s. Quarterly CPI – the last official reading of inflation – rose just 0.4% in April-June. That was the weakest in 17 years.

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The RBA made no changes to monetary policy at its most recent meeting.

Australia’s economic expansion weakened to 0.5% in the second quarter, although annual GDP growth rose at its fastest pace in four years. That marked the 21st consecutive quarter of GDP growth. Australia also hasn’t seen a recession since 1991, the longest streak in the advanced industrialized world.

 

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