Australian Consumer Inflation Expectations Highest Since May
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Australian Consumer Inflation Expectations Highest Since May

Australian consumer inflation expectations have hit their highest point since May, raising the likelihood of a fifth RBA interest rate rise this year.

By James Glynn SYDNEY--Consumer inflationary expectations across the Australian economy hit their highest level since May last week, strengthening the case for the Reserve Bank of Australia to...

The Long Sip
What happened

Weekly consumer inflation expectations rose to 6.3 per cent, the highest since May, according to the ANZ and Roy Morgan weekly survey.

The detail

RBA Deputy Governor Andrew Hauser said the inflation outlook has become materially worse, and businesses are increasingly passing higher costs on to consumers.

What it means

A fifth rate rise this year looks increasingly likely, which would put further pressure on house prices and household budgets already strained by fuel costs and higher repayments.

For you

Financial markets are watching Wednesday's third-quarter inflation data closely, as a further rise could push the RBA to lift rates again at its meeting next week.

Full story at MarketScreener

What readers are saying

MarrickvilNick
The survey shows firms are increasingly willing to pass on higher costs according to the RBA's business liaison. That suggests these elevated expectations could become locked in and make bringing inflation back to the 2.5 percent target even tougher.
PolishAusBeata
Consumer confidence still near record lows.
Bert
The time to buy a major household item subindex fell 6.3 points last week.
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