Inflation expectations higher in April.
The expected inflation rate (30-per-cent trimmed mean measure) rose by 0.3 percentage points in April to 4.6 per cent. Total pay (30-per-cent trimmed mean) is expected to grow by 1.0 per cent over the next 12 months.
Inflation expectations picked up in April, following last month’s value of 4.3 per cent, which was the lowest trimmed mean inflation expectation since 2021. The result is consistent with a broader flattening of inflation expectations in recent months, following the relatively sharp decline in expectations during the period of monetary policy tightening.
The April 2024 Survey of Consumer Inflationary and Wage Expectations was released at 11am (AEDT), Thursday, 10 April 2024. The May 2024 Survey of Consumer Inflationary and Wage Expectations will be released at 11am (AEDT), Thursday 23 May 2024.
The Melbourne Institute Survey of Consumer Inflationary Expectations measures are designed to represent the average householder’s expected rate of consumer price changes over the coming 12 months. Further information can be found here.