Inflation expectations largely flat in November
The expected inflation rate (30-per-cent trimmed mean measure) rose slightly to 4.9 per cent in November, from 4.8 per cent in October. Total pay (30-per-cent trimmed mean) is expected to grow by 1.2 per cent over the next 12 months.
In November, we observed relatively flat inflation expectations. In annual terms, November’s trimmed mean inflation expectation is 1.1 percentage points below the value observed at this time last year, highlighting overall moderation in inflation expectations. Actual and expected wage changes continue to be relatively weak, and are only slightly greater than their respective values in November 2022.
The November 2023 Survey of Consumer Inflationary and Wage Expectations was released at 11am AEDT, Thursday, 16 November 2023. The December 2023 Survey of Consumer Inflationary and Wage Expectations will be released at 11am AEDT, Thursday, 14 December 2023.
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.