Melbourne Institute Survey of Consumer Inflationary Expectations for May 2023.
- expected inflation rate 5.2% from 4.6% in April’s survey
Says MI:
- May’s data show a spike in inflation expectations, likely to be associated with last week’s federal budget. Even with the spike, trimmed mean expectations are only slightly above the level observed in May 2022. It is unclear whether the spike will significantly influence the broader trend of weaker inflation expectations observed in recent months (primarily due to increasingly tighter monetary policy). Wage expectations also continue to be weak, both in terms of the trimmed mean measure and the weighted mean measure.
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Still to come from Australia: