Australian inflation expectations are climbing, quickly

As part of ANZ's Roy Morgan consumer sentiment survey is a check on consumer inflation expectations.

And ... well, they are rapidly rising.

ANZ say:

• Australia consumer confidence is resilient, but inflation expectations also still trending.

The RBA is sitting on the fence with its taper plan, reducing the amount but extending the time it'll be buying bonds. As for a rate hike, Governor Lowe insists its not going to happen until 2024 at the earliest. The RBA might get some encouragement from this rise in expectations, they'd like inflation to quicken. This info in this post from a while back might go some way to explaining why:

• during times of increasing inflation - people see inflation rising so they tend to buy more quickly, thus prompting prices to rise faster.

From just last week on similar:

• The Melbourne Institute Inflation Expectations survey measures consumers' median expectations for price growth over the coming 12 months.