Melbourne Institute / TD Securities Inflation measure November: +0.2% m/m (vs. +0.1% m/m prior)

Sunday, 01/12/2013 | 23:30 GMT

For the m/m change, prior was +0.1%

Melbourne Institute TD Securities Inflation measure November 2013

For the y/y change,comes in at +2.4%

prior was +2.1%

While this in not the official measure of inflation (we only get that once a quarter here in Oz), it is edging up a little – there will be some impact from the weaker AUD in this result.

The Melbourne Institute / TD Securities Inflation gauge is designed to mimic the quarterly government-released CPI data.

Note, the ‘trimmed mean’ inflation gauge from Melbourne Institute / TD Securities was flat at 0.0% m/m (and +2.3% y/y). It is the trimmed mean that the RBA pays most heed to as an inflation measure

And, as a ps., in case anyone is not aware, there is an BA monetary policy board meeting tomorrow (Tuesday 03 December 2013) – the announcement is scheduled for 2.30pm local time (0330GMT). No change in the cash rate is expected. The meeting following tomorrow’s is in February (February 4th).