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Financial News: Australia Inflation Expectations Rise In November

Australia Inflation Expectations Rise In November

11/10/2022 - 02:52:00 (RTTNews)

(RTTNews) - Inflation expectations among Australian households increased in November after four months of moderation, the Survey of Consumer Inflationary and Wage Expectations from the Melbourne Institute showed Thursday.

The expected inflation rate rose by 0.6 percentage points to 6.0 percent in November. Total pay is expected to grow by 1.0 percent over the next twelve months.

The survey showed that the increase reflects recent data on official inflation.

Moreover, uncertainty about inflation increased, with a decline in the proportion of consumers expecting higher inflation, and an increase in the proportion reporting 'don't know' for year-ahead inflation.

Wage expectations also continued to weaken, with views about inflation significantly outpacing beliefs about future wages.

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