The Monthly Inflation Gauge and Cost of Living report recorded higher prices for April, in addition to a rise in the cost of living
The Monthly Inflation Gauge and Cost of Living report recorded higher prices for April, in addition to a rise in the cost of living. The report also shows a persistent positive gap between the annual cost of living of employees and pensioners and beneficiaries.
The Melbourne Institute Monthly Inflation Gauge is designed to provide a timely and accurate monthly measure of inflation in Australia. Based on the ABS methodology for calculating the quarterly consumer price index, the Melbourne Institute Monthly Inflation Gauge estimates month-to-month price movements for a wide-ranging basket of goods and services across the main capital cities of Australia.
The Melbourne Institute Monthly Cost of Living Indexes account for changes in mortgage rates, which are not part of the inflation measure. The indexes are computed for five household types (age pensioners, pensioners and beneficiaries, employees, other government transfer recipients and self-funded retirees).
The Melbourne Institute Monthly Inflation Gauge and Cost of Living report for May 2023 was released at 11am (AEDT), Monday 1 May 2023. The next report for June 2023 will be released at 11am (AEDT), Monday 5 June 2023.
The Melbourne Institute Monthly Inflation Gauge is designed to give markets and policy makers a monthly update on inflation trends. Further information can be found here.