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Financial News: Australian Inflation Expectations Rise In January

Australian Inflation Expectations Rise In January

01/19/2023 - 02:13:00 (RTTNews)

(RTTNews) - Australia's inflation expectations increased in January, the Survey of Consumer Inflationary and Wage Expectations from the Melbourne Institute showed Thursday.

The expected inflation rate rose to 5.6 percent in January from 5.2 percent in December.

Over the last three months, trimmed mean inflation expectations averaged 5.6 percent, which was well below the 2022 peak of 6.7 percent in June.

Total pay is forecast to increase 1.1 percent over the coming twelve months.

The survey suggested that wage expectations increased in January but there is little evidence of any persistent rise in beliefs about future wage growth.

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