Australian October Melbourne Institute Inflation Gauge +0.3% m/m (prior +0.1%) ...Middle East

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Australian October Melbourne Institute Inflation Gauge +0.3% m/m (prior +0.1%)
The Melbourne Institute Inflation Gauge is a privately surveyed inflation indicator. it was the 'go to' for a guide to monthly inflation data for Australia prior to the Australian Bureau of Statistics introducing their monthly measure. For October 2024:+0.3% m/m (prior +0.1%)+3.0% y/y (prior +2.6%)The jump will not be welcome news to the Reserve Bank of Australia. The Gauge is not a definitive guide to inflation, but a rise of this magnitude, both m/m and y/y, will not be shrugged off/ Analysts are currently clustered around a February RBA rate cut expectation. Market prcingis for the first cut around May, instead. Curent rates from the RBA webioste. ***ps The Bank meets this week, November

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