There is further good news on the inflation front, with the Melbourne Institute’s (MI) Inflation Gauge for February recording a 0.07% decline:
Source: Alex Joiner (IFM Investors)
The three-month annualised rate is also encouraging, falling to 1.2% in February from 1.5% in January.
Over the year, the MI’s inflation gauge fell to 4.01%, which was a 22-month low:
Source: Alex Joiner (IFM Investors)
The core measure, trimmed mean inflation, rose only 0.12% m/m in February (prior +0.2% in January):
Source: Alex Joiner (IFM Investors)
Over the year, trimmed mean inflation rose by 4.0% y/y (prior 4.4%):
Source: Alex Joiner (IFM Investors)
Excluding volatile items, the MI inflation gauge fell by 0.32% in February:
Source: Alex Joiner (IFM Investors)
Annual MI inflation excluding volatile items, fell to 4.16%:
Source: Alex Joiner (IFM Investors)
Australia’s inflation continues to trend lower, which augers well for rate cuts later in the year.
