Melbourne Institute's private inflation survey. We get official VCPI data from the Australian Bureau of Statistics only once a quarter, so kudos to MI for filling in monthly data

Headline comes in at +0.3% m/m

  • prior was also +0.3%

And for the y/y, comes in at +2.6%

  • prior 2.5%

The 'trimmed mean' in at +0.2% m/m

  • prior 0.3%

And trimmed mean y/y is +2.7%

  • prior 2.5%

If these sorts of results are reflected in the official (Australian Bureau of Statistics) data, the next release is not due until January, then it put inflation right into the Reserve Bank of Australia target band (which is 2 to 3% over the course of a cycle).

The RBA meet tomorrow (Tuesday 7 November 2017) and will leave policy on hold. 'On hold' is here there will be for many months yet.

ps. I posted a couple of previews of the RBA meeting (And Friday SoMP):