Australia – TD Securities/Melbourne Institute (MI) Inflation Gauge for November 0.1 % m/m (prior was 0.2%)

Australia – TD Securities/Melbourne Institute (MI) Inflation Gauge for November: 0.1% m/m

• prior was 0.2%

And, for the y/y, in at 2.2% (prior 2.3%)

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For the trimmed mean measure:

• 0.1% m/m, 2.4% y/y (The the Reserve Bank of Australia’s (RBA) long-term target band is 2-3 percent)

And, more:

• Prices for tradable goods and services up only 0.1% m/m^ 2% y/y (suggests the falling AUD is having only a limited impact on inflation so far)
• Price rises for fruit and vegetables, newspapers, books and stationery and garments added the most to inflation in November
• Falls for petrol, holiday travel and accommodation and games, toys and hobbies
• Inflation excluding fuel, fruit and vegetables + 0.2% m/m, +2% y/y
• Prices in the non-tradables sector +2.4 % y/y (the high earlier in the year was +3.4%)

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The TD Securities/Melbourne Institute (MI) Inflation Gauge is a privately produced inflation gauge. We only get the official data (from the Australian Bureau of Statistics) once every 3 months, so this measure does garner attention in the market … especially when inflation is an issue. Which, it isn’t at present.