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<Econ> Australia May Consumer Inflation Expectations Fall to 5.6%, Sticky Inflation Concerns Persist
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The Melbourne Institute reported that Australias consumer inflation expectations for May fell to 5.6% from the previous reading of 5.9%, which had marked a more than three-year high. Concerns over sticky inflation persist, and the Reserve Bank of Australia recently warned that the conflict involving Iran and the recent sharp rise in oil prices pose challenges, with inflation expectations potentially rising further. Minutes of the Reserve Bank of Australias policy meeting indicated that members expect underlying inflation to remain above 3% until end-2027, and only return to the midpoint of the 2% to 3% target range by mid-2028. Australias Consumer Price Index (CPI) for March rose 4.6% YoY, the highest since September 2023 and well above the central banks target range. The central bank raised interest rates for the third time in early May to 4.35%, the highest level since January 2025. (da/j) Auto-translated by AI This article was automatically translated by AI, the original language version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. More Details
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