This is the privately surveyed monthly inflation data from Melbourne Institute for July 2022.
+1.2% m/m (biggest m/m rise ever in this survey)
- June was +0.3%
+5.4% y/y
- June was +4.7%
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Core inflation rate indicated in the survey, the trimmed mean is:
+0.3% m/m
- June was +0.3%
+3.9% y/y
- June was +1.4%
The RBA policy meeting is Tuesday, 2 August 2022. A 50bp cash rate hike is expected. The Reserve Bank of Australia is well behind the inflation curve. This acceleration from Melbourne Institute data is not encouraging.
